The Feed-in-Tariff was launched April 2010 and since then it’s seen a truly spectacular uptake, it’s quite simple really and works like this:
If you install a PV system the government’s Feed-in Tariff scheme (FIT) you will be paid for the electricity you generate, even if you use it yourself, and for any surplus electricity you export to the grid. And of course you’ll also save money on your electricity bill, because you’ll be using your own electricity!
Here are some of the main benefits you will enjoy if you have a PV system installed:
- The feed-in tariff is a 20 year contract so you’ll receive payments for the next 20 years.
- Payments are index linked to the Retail Price Index (RPI) and Tax free!
- Earn for every KWh unit of energy that your system generates, regardless of whether you use it.
- Reduced energy bills, so you can earn and save at the same time.
From April 2012 to get the FIT at the higher rate for solar PV your property needs to have an Energy Performance Certificate (EPC) of band D or better. Don’t worry, as over half of all UK properties already exceed this grade and the installation of a PV system can itself raise the level by up to one-and-a-half grades.
Pay Monthy Option
In 2015 Fenland solar became authorised by the Financial conduct authority (FCA), meaning we are able to offer funding packages on behalf of the Bank. There is strict legislation by the FCA so you can be sure that everything will be explained thoroughly.
Although the electricity saving is instant from solar PV, the Feed-in-Tariff is paid every three months. If you are concerned about the initial outlay for the solar system or the monthly re-payments we are able to defer you first payments for 3 months until your first meter reading is submitted for your solar system.
Interest rates are some of the most competitive on the market, and it is a fantastic way of getting a solar system without tying your money up waiting for it to pay itself off.
Get in touch to find out more.