Generate cash as you generate your own electricity!
Harnessing the sun´s power via a series of panels on the roof, solar energy cuts your electricity bills, lowers carbon emissions and offers a superb opportunity to earn a guaranteed tax-free income over 25 years!
A green investment that will give you an income of up to £41,643 over 25 years
By installing a solar panel system now you will be assured of a tax-free pay-out from your energy company for the next 25 years, securing your initial investment and financial return!
If you buy a 3.75kWp system today you can expect to receive a combined Feed-in Tariff earning and electricity bill saving return of approximately £938 per year!
Did you know...
The Feed-in Tariff is linked to the Retail Price Index (RPI) your income from solar electricity will always track the rate of inflation. In addition to the FiT payments, your home will also use the electricity your solar panels generate during the day which can significantly reduce your energy bills.
Feed in Tariff – Update 9th February 2012
The Department of Energy & Climate Change (DECC) confirmed plans to reduce the Feed-in Tariff generation rate from 43.3p per kWh to 21p as outlined in Phase 1 of the Consultation. The change in tariff is due to be applied from the 1st April 2012 and will apply to all Solar PV (Electricity) installations fitted on or after the 3rd March 2012. All installations registered on or after this date will be assured the 21p per kWh on systems up to 4kW.
Solar PV installation after the 1st April 2012 will be required to produce an Energy Performance Certificate (EPC) rating of ‘D’ or above (DECC estimate that this is about 50% of existing properties) to qualify for the FiT at the 21p level. This could leave properties with solid walls and those not on mains gas at a disadvantage.
One of the easiest ways to improve the energy rating of your property is to insulate your home. Existing schemes such as FREE home insulation currently offered by Enact can help to off-set this.
Proposed plans for Phase 2 of the Consultation – known as ‘Solar PV Costs Control’, looks to reform the current FiT Scheme. The proposed changes include:
- As of 1st July 2012 the generation rate will be reduced from 21p per kWh generated. The new rate will be dependent on the uptake of Solar PV during March & April 2012, and could be as low as 13.6p or as high as 16.5p per kWh.
- The FiT rate could also be reduced to a payment over 20 years rather than over 25 years as currently offered
- Introduction of a programme of reduction of the solar PV tariff by 10% every 6 months after that. Consideration of removing the index linking of the FiT payments
So what does this all mean? Simply, now is the best time to get your Solar PV system ordered, installed and registered before the 1st April 2012. Ordering in time will receive 21p per kWh without the need for an EPC certificate and your system could provide a return on investment of about 6-7%.
To stay up to date please check back regularly for any updates.
Please follow this link to review the DECC statement:
http://www.decc.gov.uk/en/content/cms/consultations/fits_rev_ph2a/fits_rev_ph2a.aspx
All figures and rates in this document are quoted from the DECC report: Feed-in Tariffs Scheme Consultation on Comprehensive Review Phase 2A: Solar PV cost control.
To see a breif overview of the timeline for the FiT consulatation please click here.
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Should you have any questions, simply call us free on 0800 093 40 50.
*Combined Feed-in Tariff earnings and bill savings based on a typical 3.75kWp system. ** The calculations on this page are based on the new Feed-in Tariff rate of 21p/kWh and the Export Tariff rate of 3.1p/kWh. Based on a typical 3.75kWp system and an RPI of 5%. The actual sum returned is dependent on the annual RPI. Based on the OFGEM scenarios fuel prices are assumed at a rise of 5% per annum. Using industry standards a degradation of 0.5% per annum is assumed. Prices of electricity used in this example are 13p/kWh.
