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Government Confirms Feed-In Tariff Cash Rewards for Solar PV1 February 2010
The Government has announced higher than expected cash rewards for low carbon electricity produced by solar photovoltaic (PV) systems through the new Feed-in Tariff scheme.
With effect from 1st April the Feed-in Tariff (also known as the "Clean Energy Cashback" scheme) will be introduced whereby an annual payment will be made to PV system owners for electricty generated and exported for 25 years.
The tariff levels have been set higher than previously revealed in the Government's consultation document published in Autumn last year. A typical household retrofit PV system under 4 kilowatt (kW) will receive 41.3p per kilowatt hour (kWh) with an additional payment of 3p per kWh for any electricity exported back to the national grid. Taking into account the additional avoided costs from having to buy less electricity from electricity companies, it is estimated that homeowners can save and earn over £1,000 per year for 25 years with a typical solar PV system.
Until 31st March, homeowners are also able to access a Government grant of up to £2,500 to help with upfront costs, meaning that there has never been a better time for households to start generating their own electricity.
To find out more about our solar PV systems and the financial incentives available click here.
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Filsol are a member of the Solar Trade Association, the Renewable Energy Association