Latest Feed-in Tariffs scheme finally confirmed by the UK Government a month ago will start on 1st August 2012. Homeowners applying on or before 31st July 2012 will receive the current 21p/kWh rate for an up to 4kW solar panels installation, as well as an EPC level D or above. However, those with an eligibility date on or after 1st August should be aware of the key changes announced by the UK Government.
From 1st August 2012, for householders installing a total capacity of 4kW or less, where attached to or wired to provide electricity to a building which is already occupied, the scheme will be the next:
- Feed in Tariffs will drop to 16p/kWh with an EPC band D or higher (if band E or less the lower tariff rate has also dropped to 7.1p/kWh).
- At the same time, the export tariff rate will increase to 4.5p/kWh.
- For both Feed-in Tariff as well as Export Tariff, the payment period will be reduced for solar PV from 25 to 20 years for all new solar PV installations.
Summing up, homeowners who install solar panels on or after 1st August, and have an EPC level D or above, will receive:
- 16p per each kilowatt per hour solar panels generate and
- 4.5p per each kilowatt per hour sent to the National Grid
during the next 20 years. As estimated in one of our latest posts, the return on investment with the new Feed-in Tariffs is still really good, standing up to 9.92% during the first year for a 16 panels installation.
Consumers who already receive Feed-In Tariffs payments will see no changes in their payments, as they registered their solar panels installation before that date. At the same time, those installing solar panels before 1st August will get paid the current Feed-in Tariff, which started last 1st April.