GOVERNMENT BACKED INCENTIVE FITS
How the Tariffs work
Feed In Tariffs are Tariffs that are paid to you for renewable electricity produced, plus a bonus for power exported.
Feed In Tariffs are based on the electricity generated by a renewable energy system which is used in the property. There is also an additional bonus for any energy produced which is exported to the electricity grid. This means you get paid more for the energy you don’t use than for that which you do which encourages energy efficiency.
At times when you are producing less electricity than you are using, the shortfall will be imported from the grid and you will pay your electricity company for this in the usual way.
The Feed-In Tariffs therefore give you three separate financial benefits:
A typical domestic solar panel system with a installation size of 3kWp could earn:
£530 a year from the Generation Tariff
£40 a year from the Export Tariff
£100 a year reduction of your current electricity bills
£670 total saving per year.
See the solar energy trust Calculator to find out how much you can earn.
Note that these savings are accurate until 1st August 2012 when the tariffs will change. Find out the latest information about UK Government changes to Feed-in Tariffs
