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Feed-in Tariff Scotland
The Feed-in Tariff (FiT) is a UK Government-backed scheme that rewards homeowners with cash payments for generating electricity from renewable technology. You’ll earn money from:
• Every kWh of electricity produced by your solar panels (Generation Tariff)
•Every kWh of electricity produced by your solar panels that you give back to the National Grid for other people to use (Export Tariff)
You’ll receive money from the FiT for 20 years which should make you a healthy return on your investment – especially because all the money you get is tax free and index linked. When payments from the FiT stop after 20 years, you’ll still be able to save money on your energy bills for the remaining lifespan of your solar panels. It’s estimated that you can earn between £1,850 and £7,300 over 25 years from solar panels, depending on how many you have installed.
Cash in Before it’s Too Late
The UK Government has announced that it’s ending the FiT in April 2019, meaning you’ve got less than a year to sign up to the scheme. Once your solar panels are registered for the FiT, you’re guaranteed payments for 20 years even after it’s scrapped.
Bear in mind that the Feed-in Tariff rates for new applicants do get reduced every 3 months, meaning the amount you can earn from your solar panels is also reduced. If you’re considering getting solar panels for your home, act fast to lock in the current FiT rates and avoid any future reductions.
The current Feed-in Tariff rates for April to June 2018 are:
|
Generation Tariff Rate
|
Export Tariff Rate
|
|---|---|
|
4.01p per kWh of electricity
|
5.03p per kWh of electricity
|
e Certificate (mount you’ll earn will be reduced)
Earnings from the Feed-in Tariff
You’ll receive money from the Feed-in Tariff for 20 years once you’ve registered your solar panels for the scheme. The table below shows you what you can expect to earn in a year if you were to install a 4kW solar panel system (made up of 16 solar panels) worth £6,000. Calculations are based on the current Feed-in Tariff rates:
|
Source of Income
|
Earnings
|
|---|---|
|
Generation Tariff
|
£145
|
|
Export Tariff
|
£91
|
|
Energy Bill Savings
|
£72
|
|
Total Per Year
|
£308
|
*based on installation on a south facing roof with no shade and a monthly household electricity bill of £50
And this is how much you can earn over 20 years for the same sized solar panel system:
|
Year
|
Earnings
|
Profit/Loss
|
|---|---|---|
|
1
|
£308
|
-£5,692
|
|
5
|
£1,540
|
-£4,460
|
|
10
|
£3,080
|
-£2,920
|
|
15
|
£4,620
|
-£1,380
|
|
20
|
£6,160
|
+£160
|
*based on installation on a south facing roof with no shade and a monthly household electricity bill of £50
TO BOOK A FREE SOLAR SURVEY FOR HOME OR BUSINESS CLICK HERE – https://www.scottishenergysaving.co.uk/solar-pv-panels/
OR CALL 0800 799 9753
