Solar Panel Feed-In Tariff (FIT) Scheme
As well as providing energy for your home year-round, did you know that solar PV panels can help you to generate extra income? Every electrical unit your PV panels make, or any excess electricity exported back to the National Grid, can earn you money from the government’s Feed-in Tariff scheme.
If you are eligible to receive solar panel Feed-in Tariff payments, your energy supplier will pay you a set amount for each unit of electricity you generate, even if you use it. You can also sell any electricity you generate but don’t use and receive further payments from your supplier. Depending on your location, you could generate savings and receive payments of £325* a year.
By using your own power for your domestic appliances, you will also make substantial savings on your household bills by reducing the amount of electricity you need to buy from your supplier. However, bear in mind that the amount you are able to save will vary based on how much of the electricity you use during daylight hours.
Thanks to the impressive money-saving benefits offered by the Feed-in Tariff, UK homeowners are increasingly turning to renewable electricity-generating technology to lower their energy bills and earn some extra cash. Better still, with the savings you make from the Feed-in payments, your solar panels will pay for themselves in just a few years.
To find out more about the solar Feed-in Tariff scheme, or any other financial incentives for energy efficiency home improvements, don’t hesitate to get in touch. One of our qualified assessors can visit your property to conduct an assessment and suggest the best system for your home.
*This an estimated amount based on a 4kWp solar PV system if installed in London between 1st July 2016 – 30th September 2016 and EPC rating of D or above. This was taken from http://www.energysavingtrust.org.uk/domestic/solar-panels and is correct as of September 2016.