Get Paid for the Solar Electricity You Produce
In 2010 the government launched the Feed-In Tariff (FIT) scheme to encourage homeowners and businesses to generate their own low carbon electricity using solar PV panels.
The Feed-In Tariff pays you for the solar electricity you produce, whether you use it yourself or export it back to the national electricity grid.
Tax-Free Income for Homeowners
FIT payments are guaranteed for 20 years, are indexed linked, and provide a tax-free income for homeowners. Tariff rates will regress over time, so the quicker you invest the better the returns you receive will be.
Tariff Rates are reviewed every three months but are fixed for you for 20 years from the time your system is commissioned.
The Three Ways the Feed-In Tariff Scheme will Benefit You
1. You will receive payments for every unit of electricity that your system generates paid by your electricity supplier. This is called the generation tariff. These payments offer a tax-free income for homeowners and this will increase in line with inflation for 20 years.
2. You will get a further payment per kWh from your energy supplier for each unit that your solar system produces but export back to the electricity grid, so you can sell any electricity you generate but don't use yourself. It is estimated as being 50 per cent of the electricity you generate. You’ll need an export meter if your installation is above 30kW.
3. You will benefit from lowered utility bills as your solar PV system will typically produce around 50% of your electricity needs. Solar PV systems still generate electricity even on cloudy days.
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