With the Feed-in Tariff, you could earn up to £13,450 over 20 years by generating your own electricity using solar panels. But on 15th January, this is all set to change.
The Department of Energy and Climate Change (DECC) recently announced that it will cut the Feed-in Tariff from 12.03p/kWh to just 4.39p/kWh. This will take effect from 15th January, so you need to move fast to benefit from FITs before it is too late.
Unlike the old system where any eligible person that installed solar panels and applied for FITs payments would receive them, the new scheme will have a limited amount of places available for the new rates. If you miss out on the current tariff, you will be placed in a queue for the next one when it opens. The downside to that is that it will be lower than the rate you originally applied for.
Default degression every 3 months
In addition to the cap on the number of applicants that can receive the payments each quarter, the tariff will decrease every 3 months too. And as there is no guarantee that you will get the tariff you apply for if you are too far behind in the queue, you want to act quickly so you can get the higher rate of FITs.
No new accreditations for 3 weeks
Between 15th January and 8th February, you will be placed in the queue for the next cap if you apply for FITs during this time. So even though you applied before the changes to the tariff come into effect, you’ll still only be paid the new tariff.
Go solar today and reap the rewards
- Save £126 a year on your electricity bills
- Reduce your carbon footprint by producing renewable energy
- Earn up to £13,450 over 20 years
- See a return on your investment within 10 years
If you want to benefit from the Feed-in Tariff, you need to take action now. Get your solar panels installed and apply for FITs by 14th January to get the higher rate of 12.03p for 20 years.
Get up to 4 quotes from reliable MCS-registered solar panel installers now.
Facts & Figures You’ll Love To Share
- Earn up to £13,450 with solar panels
- The current FIT rate of 12.03p will end on 14th January
- Get in fast to get FITs as from 15th January you’ll be put in a queue
- You can save £126 a year on your electricity bills with solar panels