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Feed in Tariffs went live on April 1st 2010 as part of the Clean Energy
Cashback Scheme. Designed to encourage the installation of renewable
energy systems. As well as the benefit to the environment there are also
four other key financial advantages:
1. You get paid for the energy that you produce. This includes electricity used in your property and electricity exported back to the grid.
2. You save money by reducing the amount of energy that you buy from your energy supplier.
3. FITs are fixed and index linked for 25years so you can reliably calculate your long term revenue.
4. You are guaranteed a minimum 8-12% annual return on your initial investment.
These FITs really have seen a vast increase in the number of renewable energy sources being installed. But the increase in the number of PV modules being installed is unmatched. This is down to the simple reason that Solar PV offers the best tariff out of every other renewable source:
As well as gaining money from the generation of the electricity you can also gain a healthy financial bonus via the export. This is when you are paid an extra 3p per kWh produced of electricity. It is assumed that you will export no more than half of the electricity you produce (it is best to keep this quite!) and so this means you could be earning 44.3p for every kWh produced!
With these vast amounts of money paid to you per unit of electricity produced this means that on average people can pay back the cost of their system within TEN YEARS leaving another fifteen of pure profit.
1. Have solar PV installed and certified by an MCS approved installer (for example EBS).
2. Contact your utility company telling them that you have had PV installed.
2. Generate electricity for use in the home and for exporting (getting paid the FIT for every single unit generated).
4. Contact your utility company at regular intervals notifying them the money they owe you, which they then pay directly into your bank account.
Property of Environmental Buildings Services Limited, Excluding Some Pictures
Designed By Alex Jones
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