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Why? Because the government would like to reduce the UK’s reliance on fossil fuels, and increase our use of renewable energy sources like solar and wind power. By offering payments to those who invest in renewable technology at home, it gives a financial incentive as well as an environmental one.
For small home systems the current rate is 21p for every unit (or kWh) of energy you generate. The payments are tax-free*, increase in line with inflation and are guaranteed for 25 years.
In fact, the financial benefits are so good many people are choosing to install solar photovoltaic (PV) systems as an alternative to investing their money with a bank or building society. Systems can give returns of up to 9.5%, so it’s a great investment.
Generation Tariff + Export Tariff + Bill Savings = Annual Benefit
Example
A well-designed 3.9kWp system will receive feed-in tariff (generation and export tariff) payments of £755 a year, and save £218 a year on electricity bills. A 3.9kWp system typically costs £10,500 to install, so it gets a return on investment of 9.27%.
Tariff rates at a glance
The feed-in tariff is available for businesses as well as homes, and the amount you’ll receive depends on the size of your system:
2. You use the 'free' electricity you generate in your home, get paid for every unit you generate and buy any extra energy you need from your energy supplier.
3. You sell any extra electricity you're producing to the National Grid.
• Your energy supplier will pay you a set rate (21p for systems below 4kWp) for every kWh you generate.
• This Government backed scheme is guaranteed for 25 years from first registration.
• All payments received under this scheme are tax free.
• You will also be paid an additional 3p per KWp for 50% of the electricity you generate.
• The payment is linked to the Retail Price Index (RPI).
• See a reduction in your electricity bill of up to 50%.
The Feed in Tariff Explained
The feed-in tariff is a government-backed scheme that gives financial rewards to households who generate their own green electricity.Why? Because the government would like to reduce the UK’s reliance on fossil fuels, and increase our use of renewable energy sources like solar and wind power. By offering payments to those who invest in renewable technology at home, it gives a financial incentive as well as an environmental one.
For small home systems the current rate is 21p for every unit (or kWh) of energy you generate. The payments are tax-free*, increase in line with inflation and are guaranteed for 25 years.
In fact, the financial benefits are so good many people are choosing to install solar photovoltaic (PV) systems as an alternative to investing their money with a bank or building society. Systems can give returns of up to 9.5%, so it’s a great investment.
Generation Tariff + Export Tariff + Bill Savings = Annual Benefit
Example
A well-designed 3.9kWp system will receive feed-in tariff (generation and export tariff) payments of £755 a year, and save £218 a year on electricity bills. A 3.9kWp system typically costs £10,500 to install, so it gets a return on investment of 9.27%.
Tariff rates at a glance
The feed-in tariff is available for businesses as well as homes, and the amount you’ll receive depends on the size of your system:
How does the feed in tariff work?
1. You install solar panels or a wind turbine etc and start generating your own renewable energy.2. You use the 'free' electricity you generate in your home, get paid for every unit you generate and buy any extra energy you need from your energy supplier.
3. You sell any extra electricity you're producing to the National Grid.
The main financial advantages of solar:
• You will be producing free electricity for your home.• Your energy supplier will pay you a set rate (21p for systems below 4kWp) for every kWh you generate.
• This Government backed scheme is guaranteed for 25 years from first registration.
• All payments received under this scheme are tax free.
• You will also be paid an additional 3p per KWp for 50% of the electricity you generate.
• The payment is linked to the Retail Price Index (RPI).
• See a reduction in your electricity bill of up to 50%.
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