Feed In Tariffs (FITs)
Feed in Tariffs are payments made by energy suppliers for electricity generated by technologies such as Solar PV and Wind Turbines. The purpose of Feed In Tariffs is to cover the cost of the equipment installation within a reasonable time frame, so the less you pay for a system the better.
EnergyLink can arrange for you to have up to three quotes from approved Solar PV installers in your local area. This avoids rogue tradesmen and can often save you up to 75% off the installation cost. All approved installers can help you to set up a Feed In Tariff. Our Feed in Tariff Calculator will provide you with and idea of the costs and give estimates of the likely Feed in Tariff payments.
Ways To Earn & Save With FITs
- The Generation Tariff: A fixed amount is paid for every unit of electricity produced.
- The Export Tariff: An additional amount is paid for every unit exported to the grid.
- Lower Utility Bills: Using the electricity at source results in lower utility bills.
Government Grants for electricity generation ended in February 2010 and were replaced on 1st April with the long-awaited Feed In Tariffs or FITs. The Tariffs are also known as the Government's Clean Energy Cash Back Scheme, whereby anyone generating up to 5 Megawatts of electricity is entitled to receive payments for every single unit of electricity produced. An additional payment also exists for any surplus electricity fed back into the grid.
The potential of this scheme doesn't end there because there is the added benefit of the savings to be made on electricity bills. These schemes have been highly successful in other countries such as Germany where they have existed for over 10 years and now they have finally arrived in the UK. Please try our Feed in Tariff Calculator to see how much you could earn and save.
Solar PV (Photovoltaic) Feed In Tariffs
Installing solar panels is the most common way of generating electricity. Providing there is somewhere to locate the panels so they face between South West and South East, the system will be effective in all parts of the UK. The introduction of Feed In Tariffs means that anyone who installs a Solar PV system can earn money and save on their electricity bills.
How Solar FITs Work
- Solar PV panels generate electricity.
- You get paid for everything generated.
- Extra payments for exporting to grid.
- Save on bills by using it at source.
- Adds up to hundreds of pounds per year.
A return on investment of around 8% will ensure that the initial cost is recovered well within the lifetime of the system. Read more on how Feed in Tariffs can generate you electricity and money or try our Feed in Tariff Calculator to see how much you could earn and save.
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