The Feed-In Tariff Update
FIT update from the Department of Energy & Climate Change. Greg Barker announcement provides certainty for the Feed-In Tariff scheme.
Greg Barker, Energy and Climate Change Minister announced on the 20th July 2012, the results of the Feed-In Tariff consultation from earlier this year. The FIT available for the installation of wind turbines has finally been unveiled and we can look forward to a much more stabilised Feed-In Tariff Incentive.
The changes made will affect the tariffs from the 1st December 2012. They also announced that from April 2014, a degression mechanism will be introduced for wind technology in line with the uptake. Tariffs will be published two months before the degression date and all data will be made available publicly.
DECC is also introducing a system of preliminary accreditation so that all larger wind and PV installations (over 50kW) will be able to know before construction that they will be accredited. It will also provide certainty over tariffs for six months to two years depending on the technology. This means that if a developer gets their project up and running within the tariff guarantee timescale, they will get the tariff that applied at the time they applied for preliminary accreditation. This will also be available to non-domestic community energy PV projects up to 50kW.