With a lot information in the news at the moment about changes being made to the solar Feed-in tariff the expected rate of return from having solar fitted to your home is relatively uncertain. Even more so since the High Court decided that the planned changes to the scheme were ‘unlawful’. However the Government says that the current funding won’t suffice if the current level of uptake continues.
But how does this affect someone looking to install a solar PV system on their home.
Well so long as the system has a capacity no greater than 4kW and you have it installed between now and the 31st of March you are guaranteed at least 21p for every kilo-watt-hour you generate via the feed-in tariff. Now comes the interesting bit, depending on the how the Governments appeal against the High Court goes you could actually be entitled to receive up to 43p per kWh, but the decision really is in the balance just now so it’s not worth banking on that figure.
The other benefits to the scheme are:
- A rate of 3.1p per kWh that is exported ( as a guideline in this size of install about half your electricity with be exported).
- A reduction in your electricity bills, this is because you will be using your own power first. In order to get the most from this you must try and use the appliances that consume the most energy whilst the panels are generating the most energy.
Now if you don’t manage to get your panels installed before the 31st of March then I’m afraid your expected feed-in rate is still an unknown and it is almost guaranteed it will not be more than 21p in fact it could be less.
So if you think 21p is a fair deal then really you should get your order in now and try and get an install date for before the 31st of March. Otherwise it might be worth your while holding out to see what happens in the courts.
What do you think of the feed-in tariff rates? Is 21p a good deal?
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