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Renewable and Feed in Tariffs
The scheme covers the following electricity generating technologies, up to an installation size of 5 mega watts• Solar electricity
• Wind turbines
• Hydro-electricity
• Anaerobic digesters (Biomass)
• Micro-combined heat and power
The tariffs available and process for receiving them vary, depending on when the technology was installed and whether the system and installer are certified with the Micro-Generation Certification Scheme (MCS)
If you are eligible to receive the Feed in Tariff (FIT) then you benefit in 3 ways: -
1. Generation Tariff
A set rate paid by the energy supplier for each unit (or kwh) of electricity you generate and depending when you join the scheme the rate will be fixed for up to 25 years (subject to technology used)
2. Export Tariff
You will receive a further 3p/kwh from the energy supplier for each unit you export back to the electricity grid that is when it is not used on site.
3. Energy Bill Saving
You will make savings on your electricity bills, because generating electricity to power your appliances means you don’t have to buy as much electricity from your supplier
A typical domestic solar electricity system, with an installation size of 2kwp could earn around: -
£700 per year from the Generation Tariff
£25 per year from the Export Tariff
£110 per year reduction in current electricity bills
This gives a total saving of around £830 per year.
In some cases this saving will be for up to 25 years and as electricity costs increase so will the savings.
For further details on Renewables and the Feed in Tariffs (FITS), contact either: - Alistair Monteith or Mike Knox