The UK government has once again messed around with the renewals industry and updated the Feed In Tariffs rates.
Last week the all knowing DECC announced the details: As widely expected the rates are due to be reduced, however, after industry consultation the reductions are not as drastic as initially expected.
Installing solar on your roof is still a great investment despite the reductions. Remember that as well as the Feed in Tariff payments you will benefit from all of the following too….
- Reduction in your annual electricity bill
- Added value to your property
- An export tariff
- Protection against rising fuel costs
- Reducing your carbon footprint
The new scheme and below rates will be implemented from the 8th of February 2016.
However, the scheme has a clause whereby it is paused when a deployment cap is reached. As such, the effective date for the end of the current scheme is midnight on the 14th January 2016.
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Under the revisions, an EPC of grade “D” or above is still required, but the property must achieve this before the solar panels are installed. In other words the installation no longer counts towards the rating.
To protect the new budget (£100-million) a deployment cap mechanism has been introduced:
If a deployment cap is reached within a period then the scheme is paused until the next period for application opens. This does mean that we can no longer guarantee a particular rate for clients, though admittedly the rate change between one period and another is small.