The UK government announce plans to reduce the subsidies as part of the Feed-In-Tariff scheme by up to a huge 87%!
As of January 2015, you'll receive a significantly less price for energy produced from residential solar panels, as the government announces plans to change the Feed-In-Tariff scheme.
Feed-In-Tariff was introduced in 2010 as an incentive to encourage more people to install renewable electricity-generating technologies, including roof-top solar panels and small wind turbines.
Those who have installed one of the above solutions receive money from suppliers for energy produced as part of the FIT scheme, which could mean an income of up to £800 per annum!
However, with proposed decreases of Feed-In-Tariff rates, you don't have long to make the most of receiving the better price for energy produced. Connect Electric (Bury) Limited, a local solar panel installer, is encouraging those interested in fitting solar panels to do so now, before the expected cuts.
There are a number of bands as part of the Feed-In-Tariff scheme, depending on the size of your installation, but all are expected to be cut.
The changes
What is currently 12.92p p/KWH for residential solar PV will fall in 2016 to 1.63p, an astonishing decrease.
The other bands will be reduced to:
10-50kW 3.69p
50-250kW 2.64p
250-1000kW 2.28p
>1MW 1.03p
Stand alone 1.03p
When
The plans for the decrease are expected on the 1st January 2016.
What does this mean for you?
If you’ve been contemplating installing solar panels, to receive the 12.93p for each unit of energy, you’ll need to complete the job before January 1st. This will then give you the larger price of energy for 20 years. If you wait until January, you’ll receive the new fee (1.63p).
Connect Electric (Bury) Limited is a firm of experts in the installation of solar panels, which convert sunlight into electricity, silently and without causing pollution. Chris at his team at Connect Electric will offer you a consultation on solar panels before installation. Each one comes with a 10 year warranty. Safety checks and regular cleaning are also available.
Make the most of the current sum for FIT. Waiting till January will see you earn substantially less for your energy production.
Advice
If you would like more information on the changes in Feed-In-Tariff or are interested in solar panels, Chris from Connect Electric is happy to take your call.
Bury New Road
Whitefield
M45 75Y
T: 0161 766 6848
M: 07979 500025
For more information on Connect Electric (Bury) Limited, click the blue box below.
