What is the Feed-in Tariff?
FIT is designed to encourage us to use renewable energy and therefore reduce our carbon footprint. It is also known as Clean Energy Cash Back as the excess energy fed back into the national grid generated by renewable energy systems like solar panels is paid back to you at a premium.
You can only claim the feed-in tariff if you use an MCS accredited company
When did it start?
1st of April 2010.How much money will I get?
You will be paid 41.3p for every kWh your solar system generates. For example a 3KW system will produce on average 2,500 kwh of electricity per year. Using the feed in tariff rate of 41.3 pence this equates to an income of £1,302. Generating you own power also means your bills will drop as you will be buying less power from the national grid. On top of all this anything you export back to the national grid will earn you an additional 3p.How long will I receive payments for?
Payments are guaranteed at the sign-up rate for 25 years.Are there any other financial benefits?
The income generated by the FIT is tax free and because the tariffs are linked to inflation it should represent a 7-10% rate of return on your investment.What’s the catch?
There isn’t one!. All you need is the initial cost of installation.Great, where can I get more information from?
Contact Tom Mastin personally on 0787 903 0197 or email him at tom@mastinsolarpower.comFor more details on the costs and returns, please visit this page.
