UPDATE: The Feed-In Tariff is now closed for new applications. To find out about the new scheme designed to replace it, click here.
On the first of April 2014, the headline solar PV feed in tariff is reducing to 14.38p / kWh from 14.90p / kWh.
For an average 4 kW system (16 panels), this would reduce the annual return by about £20. On the face of it not much, but when you consider you receive the Feed-in tariff generation payment for the next 20 years, that equates to £400.
Remember the feed-in tariff payment is split into two parts; the first is the generation tariff, which pays you for every kWh of electricity you produce, regardless of whether this is used in the home or sold back to the gird – this is the part of the feed-in tariff that is reducing.
The Solar PV Export Tariff for 2014 / 15
The second part of the feed-in tariff is known as the export tariff, which pays you for every unit of electricity you export back to the electrical grid.
From the 1st April 2014, the export tariff will be 4.77p / kWh.
So with the generation tariff reducing in just a month’s time, you need to act fast to lock in the higher solar PV feed-in tariff, guaranteed for the next 20 years.
If you would like to get your solar PV system installed before the April 1st deadline call TheGreenAge now on 0208 144 0897, with prices starting from as little as £1650 per kW of panels installed.