Feed-in Tariffs (FITs) is a government backed renewable electricity incentive.
What is it?
FITs are payments made to energy users who generate their own electricity from renewable energy sources, such as solar electricity panels(PV).
Why is the scheme in place?
The Uk government want to meet their renewable energy targets and see this scheme as a way of helping them to achieve this.
- You will experience a monthly reduction in your electricity bill, plus, you will receive an income from your Feed-in Tariff provider.
- The payment tariff is guaranteed for 25 years,by which time, you will have paid for the cost of the installation and made a good return on your initial investment.
Savings can be considerable - around 1.2 tonnes of CO2 a year. A 2.7 kWp system can generate around 50% of a household's yearly electricity needs. Once the system is registered by our micro generation affiliated company it is eligible to receive the Feed In Tariff.
The cost of electricity supplied by you to the grid will be bought by the supplier for 21 pence per Kwh of energy, so if you have an average 4Kw system the return will be with savings and income, around £912 per year.
On a typical 4kw system your investment of approximately £10,500 will return £43,370 over 25 years which is guaranteed, and its tax free and index linked to inflation.
For more info visit the Enegry Saving Trust