As planned, the Feed-in Tariff for solar photovoltaic installations (solar PV) will be reduced on July 1st, 2015.
The rates of change are listed below for the varying system capacities:
0-4kW systems being reduced from 13.39p per kWh to 12.92p per kWh.
4-10kW systems being reduced from 12.13p per kWh to 11.71p per kWh.
10-50kW systems will remain at the current rate of 11.71p per kWh.
50-150kW systems being reduced from 9.98p per kWh to 9.63p per kWh.
150-250kW systems being reduced from 9.54p per kWh to 9.21p per kWh.
The planned reductions won’t alter the export tariff, currently set at 4.85p per kWh.
4kW solar PV systems are the most common installation size for domestic properties. As a rough guide, a 4kW domestic installation system would earn the following:
Before the July 1st reductions:
£535 per annum from Feed-in Tariff payments
£97 per annum from export tariff payments
£280 saving per annum in comparison with electric
A total benefit of £912 per annum
After the July 1st reductions:
£516 per annum from Feed-in Tariff payments
£97 per annum from export tariff payments
£280 saving per annum in comparison with electric
A total benefit of £893 per annum
As explained above, the planned changes will reduce the income a domestic solar PV installation will make the homeowner of approximately £19 a year for the lifetime of the system (a typical solar PV system will last around 20 years).
In comparison with the total savings switching to a solar PV system can have, a loss of £19 per annum isn’t going to break the bank.
Our team of experts here at GreenGen would recommend that any decision to install solar energy on your domestic property should not be rushed in order to meet the reduction deadline.
However, if you are certain that a solar PV system is the renewable solution for you, get in touch with us here at GreenGen and we’ll do all we can to ensure your Feed-in Tariff application is approved before the June 30th closing date.
To book your survey and begin your installation, fill in the enquiry form found below and we’ll be in touch as soon as possible. Alternatively, to speak to a member of the GreenGen team, give us a call on the number found at the bottom of the page.
Give us a call or send us a message to arrange your survey and assess the best solutions for your property.
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