Feed In Tariffs
Feed in Tariffs will pay you for every kWh your Solar PV system generates. This makes up the majority of your income. All you have to do is provide a quarterly meter reading of what you have generated and you’ll receive a payment that is tax free. It doesn’t matter what you do with the energy , selling it or using it, this money is there to encourage us all to move to a greener more affordable energy supplier, ourselves.
Why would they pay me?
The Feed in tariff was introduced to incentivise people to do a good thing, generate clean sustainable energy in your home. We are in an ever changing world with rising CO2 levels and enormous amounts of pressure on our government to reduce our fossil fuel addiction.
Solar is unique in that its viable for almost all homes in the UK and can be utilised through a one day process of installation and then lasts upwards of 30 years. This has meant the government is very keen to reward homes fitted with solar and has resulted in an explosion of solar installations in the UK with over half a million homes taking advantage of the Feed in Tariff scheme.
Because you’ll generate a lot of energy its highly unlikely that you’ll be able to use it all. In fact, It’s estimated that 50% of the electricity you generate won’t actually be used in your home and therefore is fed back to the national grid. The great news is that you’ll be paid for this. Every unit of electricity sold to grid generates you an income meaning your energy company will be paying you.
On top of Feed in Tariffs, the electricity you generate is free to use in your home. Although you’ll never eliminate the need to import electricity because during the night you’ll be using it from the national grid, it’s estimated that Solar PV will reduce the average domestic electricity bill by 40-60%.Electricity prices are estimated to increase by a minimum 10% per year so the savings you make will increase constantly.
* Government SAP calculation estimates based on 80% efficient grade B solar panel, UK average UV radiation, 80% client usage at 17p kWh, £80 monthly electricity bill. In comparison we use 100% grade A panels, and the South of England yields 15-20% more sunlight than the UK average.
How is my solar paid for?
Once we have worked out how much income your system will generate we will set up monthly repayments that are less than the income generated meaning you’ll have a fully installed solar panel system that pays for itself. You’ll own the panels, the FIT income, export income, savings and the increased property value, all we ask is that you keep to the payments out of some of the income so that we can continue the scheme.
How do you measure my solar income?
Our solar experts will visit your home to provide you with a survey using the solar SAP (Standard Assessment Procedure), which takes into account many variables to accurately calculate how much you will save on electricity bills and earn through FIT payments. Some of these factors are your electricity bills, power usage, roof size, roof orientation from south and pitch, home energy performance rating.
Once we have all of this information, the amount you’ll benefit from having solar is very easy to calculate. It is simply the amount of money you’ll be saving on electricity, plus the amount you’ll receive in FIT payments, minus the small repayments for your solar.