Why Ecofirst?
Feed-in Tariff
The Feed-in Tariff (FIT) also known as the ‘Clean Energy Cashback’ scheme was introduced by the Government to help increase the amount of energy in the UK created from renewable sources. It provides a long-term financial reward (25 years) for energy users generating their own ‘green’ electricity.
Under this scheme energy suppliers will make regular payments to households, businesses and organisations who generate their own electricity from renewable or low carbon sources such as solar PV panels.
Earn money from your roof with the Feed-in Tariff
- Payment for the electricity you produce (generation tariff) – this is a set rate paid by your energy supplier for each unit (or kWh) of electricity you generate. This is currently 21p per kWh for systems <4kW.
- Save money on your electricity bill – by using electricity you generate yourself from your solar panels during daylight hours you will not need to buy as much electricity from your energy supplier.
- Additional payment for electricity you don’t use (export tariff) – it is likely that you will not use all the electricity your solar panels generate. Your energy supplier will pay you 3.1p per kWh for each unit you export to the grid.
The payments are index-linked and, for solar PV systems, guaranteed for 25 years. The Feed-in-Tariff is administered by Ofgem, and energy suppliers are responsible for payments to their customers.
As soon as your solar PV system is installed and Ecofirst has registered the installation, you can start claiming the Feed-In Tariff.
Example:
A 4kWp system will generate an income of £1,143 a year in Feed-in Tariff payments and savings on your annual electricity bill.
|
System size |
4kWp |
|
Income from FIT |
£814 |
|
£ saved on electricity bill |
£271 |
|
Income from grid |
£58 |
|
System cost |
£10,256 |
|
System return (payback) |
10.5 years |
|
Annual return on investment |
9.5% |
A 4kWp solar PV system from Ecofirst provides x3 higher return on your investment than putting the same amount of money in most current cash ISA’s.
More information on the Feed-In Tariff is available at http://www.energysavingtrust.org.uk/ and http://www.fitariffs.co.uk/
