FEED-IN TARIFF (FiT) SCHEME TO END IN MARCH - NOW'S THE TIME TO INVEST IN SOLAR PV

The UK Government has announced plans to end the Feed-in Tariff (FiT) scheme from April next year. It does not intend to replace the initiative and there will be no grace period after the closure date of 31st March 2019. The end date has been set for both export and generation tariff.

The FiT scheme was established in 2010 and provides payments to owners of small-scale renewable generators (e.g. solar panels) at a fixed rate per unit of electricity produced and is funded through levies on suppliers, which are passed on to consumers. There are 5 months left for new Solar PV installations to be eligible for Feed-in and Export Tariffs.

Solar PV materials have reduced in cost since 2010 by up to 75%, which means solar panels have never been cheaper. Although Government FiT tariffs have reduced over the past few years, there is still a return of investment of up to 15%, even for new installations. If you are considering buying Solar PV, this could be an excellent time, especially as grid energy prices are increasing between 5-10% annually. It could also be worthwhile weighing up whether battery storage to store excess energy generated through Solar PV is an option.

Tesla’s Powerwall is available for UK domestic properties scalable from 13.5kWh - 121.5kWh (from 1 to a maximum of 9 Powerwalls). A Powerwall is a useful back-up facility for ever-increasing grid power cuts, increases solar self-consumption (and energy self-sufficiency) and can be topped-up using Economy 7 overnight if not filled through solar during the day.

If you would like to find out if Solar PV or a Tesla Powerwall will help you become more energy-efficient, don’t hesitate to contact Steve Baillie at East Riding Energy on 07817 242535 or email: steve@eastridingenergy.com