The Government's Feed In Tariffs Explained
Where are we up to with the Feed in Tariff?
FiT Rates for Solar PV 1 November 2012 – 30 June 2013
|Tariff Band||Fit Tariff November 1 – June 30 2013||Export Tariff 1 Nov 12 – 30 June 2013||FiT 1 July – 30 Sept 2013||Export Tariff 1 July – 30 Sept 2013|
Scheme lifetime 20 years for new solar installations
How the Feed in Tariff Scheme works: Basically the FiT scheme is made up of 3 components
- The Generation Tariff
- The Export Tariff
- Your per unit Energy Costs
Below is an explanation of how returns are calculated for systems installed on domestic property – under 4 kWp (kilowatt Peak) After the Tariff Change on 01/07/2013
|System Size on South Facing Roof||Energy Generated Per Year in Northwest of England||Generation Payment @ 15.44P / kWh||Export Tariff Paid at 4.5p / kWh||Energy Consumed by your Home (50% of what's Generated||Annual Energy Savings @ 15p / kWh||Total Returns per Year (C + D + F)||Annual Difference in Total Return After Rate Change on 1st July|
If the cost of a mid-range 4kWp solar system is £6,500 including VAT @ 5% then the return on that system, using the example above would be:-
£848.88 / £6,500 = 13.06% - using the above figures
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