FAST FACTS ON FEED-IN TARIFFS
If an average household, for example a three or four bedroom house, installed solar PV panels that generate electricity, the Feed-In Tariffs would provide the following benefits:
The electricity generated would pay the homeowner £836 a year tax-free Remaining electricity costs would be reduced from £450 to £300: saving £150 Therefore the total benefit would be £986 per year This is based on an average use of 4,500kWh of electricity per year and the installation of 2.5kW of solar PV panels.
The Tariffs and how they work
You want to reduce your carbon footprint and your energy bills, become more self-sufficient in energy, and earn some extra income.
The Feed-In Tariffs are a new Government-backed measure to make it worth your while to produce renewable electricity.
There are three separate ways that the Tariffs help you make money from generating your own energy:
The Generation Tariff: You earn a fixed income for every kilowatt hour of electricity you generate and use in your property.
The Export Tariff: You earn an additional fixed income for every kilowatt hour of electricity you generate and sell back to the grid. The bit you still buy from your electricity supplier: When you can’t generate enough electricity for your needs (if the wind don’t blow and the sun don’t shine) you still buy electricity from your utility company at the normal rates but it’ll be much less electricity than you currently buy. Renewable heat has its own similar tariff mechanism.
Please see our Renewable Heat Incentive page for further information or call our Energy Team on 0161 627 5144