Solar Spectrum Ltd

Solar Panel PV Installations

Call: 01689 885048

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Financial Incentives & Feed in Tariff

An explanation of the UK Feed-in Tariff

Home Owners & Commercial Properties

The Feed in Tariff (FiT) was introduced to the UK on the 1st of April 2010. This is the result of the UK Government bringing in legislation to ensure that your electricity provider pays you for the electricity you generate, at a fixed price, which is index linked for the next 20 years. The Solar Photovoltaic Panels should continue to produce electricity long after the 20 years Feed-in Tariff.

How the Feed-in Tariff works and how it will benefit you by saving you money and earning you money!

The Feed-in Tariff financial benefit is a three stage system. To simplify how this works Solar Spectrum Ltd will explain each stage individually.

Stage 1 Let’s start with the actual Feed in Tariff itself. For each and every unit of electricity you generate by installing a PV solar system, your electricity provider will PAY YOU per unit according to the System output installed as shown in the Fed in Tariff rates table below. They will pay you regardless of whether you use the electricity or not.
Stage 2 Moving on to the savings. Each unit of electricity you generate and use from your PV system will mean you will not need to purchase this from your energy supplier. This electricity is free to you. The current average cost of a unit in 2011 is £0.13 pence. You can verify what your being changed by your supplier by checking against your latest electricity bill.
Stage 3 Finally the export tariff. Any electricity generated by your PV solar system and that is not used by you will be exported to your supplier. You will be PAID for this electricity by your energy supplier for your unused electricity you have generated.


If you wish to see the Feed-in Tariff Payment Rate Tables please click the link below

http://www.ofgem.gov.uk/Sustainability/Environment/fits/tariff-tables/Pages/index.aspx

 

Check out our Feed-in Tariff explanation page