Feed in Tariff

All electricity generated by Solar PV system, qualifies for a payment called the Feed-in Tariff (FiT) .You get paid for all of the electricity you generate, even if you use all of it yourself, any electricity you do not use – the difference between the energy generated and the energy used (split at 50/50) – is sold back to the national grid paying an extra 4.85p/kWh – (Export Tariff) over and above the FiT.

The FIT rate is guaranteed by Government legislation for 20 years for your PV system and is RPI index-linked and, for domestic systems, tax-free. Once set this rate will continue on the same tariff for 20 years for your PV system.

The FiT payment process works via a small electricity meter that is fitted as part of your system, this measures the amount of electricity that you generate, and you are paid for that amount every quarter by your electricity company. This payment is regardless of whether you use all of the electricity in your own home.

We calculated what an average solar PV panel installation (3.5kWp) positioned on an south-facing roof with a 30-degree tilt on a house in Birmingham, with an EPC of band D or higher and registered for feed-in tariff between 1 April and 30 September 2014, could receive and save:

• Annual generation tariff income: £438
• Annual export tariff income: £68 (based on a deemed export rate of 50%)
• Annual fuel-bill savings: £80
• Total: £586 a year 
• Expected net profit over 20 years: £11,625

These numbers do not take into account the index-linked increases or the savings you will make as electricity prices continue to rise. (Have you ever known prices to go down? No, we haven't either!)

Compare this return with that of the same amount on deposit in the bank. There are no investments that will give you anywhere near a government-guaranteed, tax free return of at least 8% over 25 years.

"In a year, we've generated around £1,100 from the FIT and we're using less energy than the system generates as well. It's better than you would get in any bank!"

Chris Lumley in Essex is just one of our many happy homeowners, thrilled with their solar investment.

Here are a few reasons why the sun Solar PV is good for your wallet…

• The price of installation has almost halved over the last 5 years, thanks to the lower price of panels.
• Relief from rising energy bills.
• A system costing £4,000-£8,000 will have paid for itself within 10 years and yield a 8% ROI over a 20 year guaranteed period
• Returns may even be better than predicted, because bills are rising faster in real life than the estimates your return is based on. The technology itself is better than ever – more efficient, easier to install with minimal maintenance.

Solar PV (PV for Photovoltaic) provides electricity from sunlight. This direct current (DC) is converted into alternating current (AC) to use in your home and any unused energy will be directed straight into the national grid. The Feed in Tariff pays you a sum for everything you generate. You’ll be using the electricity you generate and therefore saving money on your bills. You’ll also be paid a small sum for the electricity that you are exporting to the grid, in addition to the FIT payments.

Suitability

Solar technology is ideal for any house with a South facing roof, East and West facing roofs also work. Call us today and speak to our staff who will ask you questions to determine your overall suitability and book a site survey.
Surveys take about an hour. There is no hard sell and are a chance for a technical salesperson to assess your roof, check your electrics then explain your options so that you can best assess what is right for your house.
This visit will be swiftly followed by an itemised quote and an estimation of your likely payback, giving you the chance to consider whether solar is right for you.

Why Select Solar?

• Over 15 years’ experience in Solar PV installations.
• We use only high quality products whilst remaining competitive.
• Our installation teams are all trusted, trained and qualified people.
• We are approved MCS and RECC/ELECSA accredited members.

For more information, phone us on 0845 003 9152