The Feed-in Tarfff (FiT) is a tax-free payment to registered owners of a Microgeneration Certification Scheme (MCS) approved solar photovoltaic (PV) installation. The FiT is paid for every kilowatt per hour generated.
The FiT was introduced on 1st April 2010 and is now set to end in April 2019. As a result of the announced closure of the FiT, Spring and Summer of 2018 are set to be very busy for solar photovoltaic installations as this will be the last chance for consumers to receive the FiT payments for installing a solar system.
The FiT scheme offers a guaranteed index linked return per year for 20 years. As an example, in 2011 a typical 4kW solar pv installation would have cost approximately £16,000, today the same size installation would cost between £6,000-£6,5000. This size system can be expected to obtain approximately £215 in FiT payments per annum, plus benefits from generated energy exported to the grid of approximately £135 per annum and annual electricity savings of £205.
If you are considering a solar installation you need to act as quickly as possible to ensure your installation can be completed before April 2019.
Solar PV Panels are suitable for most homes and are a great investment for the future. Eco Installer have been installing solar pv systems since 2011 (please click here to see our case studies) and are able to carry out a site survey which will provide you with earnings from the Feed-in Tariff.