Feed in Tariff
As part of the Governments commitments to reducing carbon emissions, they have developed an incentive scheme known as the Feed in Tariff, whereby energy suppliers are obliged to make regular payments to householders who generate their own electricity from renewable energy sources.
The scheme guarantees a minimum payment for all electricity generated by the system for 25 years and is index linked and tax free when installed on a domestic property. There is also a separate payment for the electricity exported back to the grid. These payments are in addition to the bill saving made by using the electricity generated on site.
You can find out more about the Feed in Tariff scheme by visiting the Energy Saving Trust or see how much income you could generate using their cash back calculator.
Estimated Income From a System
A 2.22 system consisting of 12 solar panels could expect to generate 1888 units per year.
The financial returns on this per year would be approximately:
Feed In Tariff: £396.48
Income From Electricity Sold Back to the Grid: £33.04
Money You Save on Your Electricity Bills: £122.70
EXPECTED ANNUAL RETURN: £552.22
The performance of solar PV systems is impossible to predict with certainty due to the variability in the amount of solar radiation (sunlight) from location to location and from year to year. This estimate is based upon the Government's standard assessment procedure for energy rating of buildings (SAP) and is given as guidance only. It should not be considered as a guarantee of performance.