Note: This article contains out-of-date information about the Feed-in Tariff scheme (FITs) which closed to new applications on 31st March 2019. Find out more about the closure on the Energy Saving Trust’s website.
Time is running out to go solar and earn a lucrative income from your solar panels.
Since April this year, the now-defunct Department of Energy and Climate Change (DECC) has placed caps on the amount of installations that can benefit from the current Feed-in Tariff rate.
That meant that if too many households installed solar panels, the remaining buyers would be placed on a list to receive the next tariff rate.
The DECC imposed default degressions on the Feed-in Tariff, meaning that every quarter the tariff goes down. That’s why you must go solar before 30th September to benefit from the higher rate.
The rate is decreasing by at least 0.07p
From 1st October, the Feed-in Tariff rate will drop from 4.32p/kWh to 4.25p. That is if there is not a deployment cap – if the maximum amount of households installing solar is reached, the rate could reduce to 3.83p/kWh.
That’s why it’s imperative that you get your installation in now. If you get your solar panels installed and submit your application before 30th September, you’ll secure the higher rate of the Feed-in Tariff, provided the cap isn’t reached.
Why should I go solar?
Solar panels are a great way to save money on your energy bills. You could cut 50% off your electricity bill every year, as well as reduce your carbon emissions by 1,900 kg per year.
There are plenty of reasons to get solar panels installed on your home:
- Earn 4.32p for each unit of electricity you generate
- Get an additional 4.91p/kWh for electricity you send back to the grid
- Reduce your carbon footprint and help combat climate change
- Slash your electricity bills by half
- Stop relying on big energy companies – you generate your own free electricity
Make sure you’ve got your EPC certificate
To get the maximum rate from the Feed-in Tariff, you’ll need to supply evidence of your property’s Energy Performance Certificate (EPC). This shows that your home has been assessed for energy efficiency.
If your home falls between A and D, you’ll get the higher tariff rate. If not, you’ll get a lower rate. But the certificate will outline any steps you can take to bring your home up to a higher band.
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