FEED IN TARIFF
The government's Feed-in Tariff (FIT) basically pays you in return for having solar panels on your roof. It guarantees cash payments for 20 years to households that generate their own electricity using solar.
HOW YOU SAVE with Solar
- Generation tariff or FIT, is a fixed rate payment to commercial businesses for the total amount of electricity generated, calculated per unit. The rate you'll receive is determined by when you first registered to join the FIT scheme and the type and size of installation.
- The table above shows an example of a 30kw system costing £30'000 and shows a breakdown over the FIT payment period of 20 years. Table 1 is based on 90% assumed usage of electricity generated and has a projected internal rate of return of 13.8%.
- Export tariff is payable on the units of electricity you export back to the national grid because you haven't used them in your own property. In the case of most small-scale technologies - or unless you already have a two-way smart meter installed - the level of electricity exported is currently 'deemed' by assuming you export 50% of the electricity you generate.