Money back for Green Energy
The Feed in Tariff (FIT) or Green Energy Cash Back Scheme guarantees the owner of a solar PV system a fixed price for the total amount of electricity generated from your solar PV system. The rate set for solar PV systems less than 4KWp is 21.1p per unit for every unit generated; this rate is guaranteed by law to be paid by all electricity providers for the next 25 years, or for the life of the solar array. The FIT is index linked to inflation and is tax free.
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- “New-build” means where installed on a new building before first occupation
- “Retrofit” means installed on a building which is already occupied
- “Stand-alone” means not connected to the grid
What are the Economic benefits of PV and the Feed in Tariff?
- Electricity prices are going to keep rising and have increased at approx 10% every year for the last decade
- A solar PV system will reduce your electricity bills if not rid you of them all together
- Approx annual return on investment of 10%
- Better return on your investment than any savings account, ISA or pension
- All green electricity generated is tax free
- PV payback of 10 years or less
- Added value to property
What if the property uses all the electricity generated?
You can use every unit of electricity generated from your solar system and you will still get paid the total Feed in Tariff rate.
What happens if the property uses more electricity than is generated?
Electricity will be taken off the grid the same as before, this process is fully automated.
What happens if the electricity generated is not used in the property?
The electricity will pass through the generation meter and be automatically exported to the grid. At the end of the year should there be a net export from the PV system you will be paid an additional 3p per unit of electricity exported to the grid.
How solar generation is calculated?
All PV systems as a matter of course are fitted with a generation meter; the generation meter calculates the total amount of electricity generated. Some electricity providers will fit their own smart meters at no extra charge to their customers. The Tariff will be deducted from your quarterly or annual bill.
What is the Feed in Tariff (FIT) guarantee?
If you have a system installed up until March 2012 the Feed in Tariff is guaranteed for the next 25 years, this cannot be changed by subsequent governments.
How to access the Feed in Tariff
Your solar PV system has to be designed, installed and commissioned by an MSC approved installer of which Love Solar is one. After the system is installed, commissioned and paid for you will be given an MCS installation certificate and unique number. This number is then given to your electricity provider to register for the Feed in Tariff.
| Supplier | Telephone | What do I do? |
| British Gas | 0800 327 7173 | Ask for a Clean Energy Cashback Contract |
| Ecotricity | 01453 769 340 | Download a form HERE |
| EDF | 0800 4047 434 | Ask for a microgeneration application form |
| EON | 0800 1831 222 | Download a form HERE |
| Good Energy | 01249 766 090 | Call or fill in THIS FORM |
| NPower | 01905 340 646 | Ask for a PV microgeneration application form |
| Scottish Power | 0845 2705 152 | Ask for a PV microgeneration application form |
| Scottish & Southern | 0292 027 3964 | Ask for a PV microgeneration application form |
How much a system cost and what will is the payback period?
All costs below are approximate estimates and assume south facing roofs at 35 degree pitch with no shading at 850KWh per KWp installed (an average system output for UK solar PV systems) The prices includes AC connection but are exclusive of any remedial AC works that may be required and scaffolding costs. The ‘savings’ calculation works on the fact that all electricity generated is used in the property at the cost of 14p per unit, The ‘Annual Earnings’ works on the premise the feed in tariff is for a system less than 4KWp at a rate of 21.1p per KWh. Tax benefits are not factored into the calculations neither are any increase in electricity prices.
| No of Panels | System Area m2 | Module KWp | System KWp | Annual KWh @ 850 units per KWp | Annual Saving @14p per unit | Annual earning @43.3p per unit | Total annual Saving and earnings combined | Approx System price | Estimated |
