In light of the ongoing Court case regarding the Feed-in Tariff rate for Solar PV installations, BritishEco are pleased to annouce that on the 21p per kWh tariff, great returns of almost 10% are still achievable. If the Government are not given permission to appeal the ruling that their changes to the Feed-in Tariff were 'unlawful', there is also potential for customers to be installed under the 43.3p per kWh tariff rate.
Act now to ensure you receive 21p per kWh and are also first in line to potentially receive 43.3p per kWh should it be reinstated for a short period of time. Waiting for the Court's decision could mean you miss out on what is still a great investment and your chances of securing the higher tariff, if re-instated, will be significantly lower as the rush for installations begins and the deadline approaches.
A typical 4kW system costing £10,486 could attract:
- Return of 9.5% at the 21p Tariff rate
- £735 annual Feed-In Tariff Payment
- £252 savings on electricity bill
- £54 from exporting to the national grid
- A total of £1,041 first year savings and earning, and
- £39,346 estimated earning over 25 years
If the Feed-in Tariff is reinstated to 43.3p, your rate of return will increase to 14.5%.
DECC have annouced that 'The tariff rate for PV installations less than or equal to 4kW will not fall below 21p for installations with an eligibility date between 12th December 2011 and 31st March 2012'.
Furthermore, the Government are proposing that from 1st April 2012 any individual wanting to install a solar PV system will also require an Energy Performance Certificate (EPC) to which they must achieve a minimum of band C energy rating to receive the 21p per kWh tariff.
Any properties below this band will need to be brought up to band C by installing energy efficiency measures outlined in the EPC recommendations. The average rating of a property in the UK is band D or E, and the average cost of the measures needed to bring them up to a Grade C annouced by DECC may be in the region of £5400.
Act now to secure your installation and receive the optimum return on your investment.
Register with BritishEco and one of our renewable energy consultants will contact you to provide you with a no-obligation quote.