Solar PV Installation in Boston : Smiths Electrical (Boston) Ltd
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Smiths Electrical (Boston) Ltd

02 - Mar - 2012

Smiths Electrical (Boston) Ltd provide exceptional electrical and solar panel services across Boston

Feed-In Tariff

Feed-In Tariff

The government introduced the Feed-in Tariffs (FITs) to encourage new investment in low carbon green technologies. The FITs is a government incentive which pays people to generate their own "Green" electricity; the scheme was developed to enable the Government to achieve its obligations under EU laws to generate 15% of the Electricity consumed from renewable technologies by 2020.

Anyone who installs an eligible Solar PV system will receive a guaranteed fixed payment for all the electricity they generate, including what they use, for a period of 25 years. They will also receive an additional payment for any electricity they don't use that they feed back into the National Grid. To top it all off, people installing systems will also benefit from reduced electricity bills as they'll effectively become their own power stations and so won't need to use as much from electricity suppliers and the grid.

This means that there has never been a better time for you to install a Solar PV system. Not only will you be significantly reducing your carbon footprint, you'll also be reducing your energy bills and getting paid to do it!

Feed-in Tariffs are paid by electricity suppliers in one of two ways; either as a direct payment into your bank account or as a credit line to your energy bills.

Generation and export tariffs:

The amount you are paid will depend on the size and type of system that you install as different technologies receive different amounts for different lengths of time. These payments are intended to give a certain percentage return each year based on the initial cost of a system.

These feed-in tariff rates are paid for each unit of electricity generated, even if you use it in your own house/building. The export can be measured by having an export meter installed by your electricity supplier, but in most cases this will not be financially worthwhile and so a deemed export amount of 50% will be used.

All tariff levels (including export tariffs) are indexed against the Retail Price Index (RPI). This ensures that the target rates of return are maintained for the lifetime of the FIT.

So as the cost of installing systems reduces, so will the FIT rates accordingly. When signing up for the FIT, the rate that you receive will remain constant for the tariff's lifetime.

Expectation Earnings

Many other countries have successfully introduced FITs, as well as several individual states in the US, Canada and Australia. Examples of countries where FITs have worked well include France, Italy, Spain, Portugal, Poland, Czech Republic, Switzerland, Netherlands, Slovenia, Belgium, Slovak Republic, Latvia, Lithuania, Belgium, Greece, Bulgaria and Hungary.

The FITs were originally introduced by the Labour government but have since been backed by the coalition governments who have pledged to 'establish a full system of Feed-in Tariffs for electricity'. The coalition governments are currently undergoing a review of the FITs, but we are confident that this will not change the current levels too much, if they genuinely intend for the UK to meet its renewable energy targets, then Microgeneration encouraged by the FITs is a key component of it being done.

Solar Technology

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