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The feed in Tariff is a payment which is made to you by your electricity supplier. For most small domestic and commercial installations this is set at the rate of 4.0p per unit (until 31st Dec 2017). This is viewed as a long term investment - these payments are guaranteed for 20 years, and the rates will increase over time in line with inflation.
Importantly, this tariff is paid for each unit of electricity that you generate, whatever you decide to do with the electricity afterwards. This is important for some people, since it means that you can be paid to generate electricity even if you are not connected to the grid. If, for example, you wish to produce electricity at a remote site which has no mains electricity supply, you will still be eligible for payments under this scheme.
The Feed in tariffs benefit the owner of a solar electric system in three ways.
Firstly, for a typical installation, you will receive 4.0p (until 31st Dec 2017) per unit of electricity generated, and this is the main benefit of the scheme. It is important to realise that this amount is paid to you for GENERATING the electricity, and it is paid on everything you produce, whatever you choose to do with it afterwards. You will also receive an additional 5.03p per unit for 50% of the energy you generate.
Secondly, once you are generating electricity, you may of course use this to power your property, this will happen automatically. When you are generating power and you turn on the lights, T.V., washing machine, etc, the electricity you generate is used to power these things, instead of taking power from your supplier. If you pay 15p per unit for your electricity, you are saving this amount by using your own, free, electricity.
Thirdly, if you don’t use all of the electricity you are generating, it is automatically fed back to your electricity supplier. Or to save even more money, if you have a hot water cylinder, you can fit a device which diverts any unused generated power into heating your hot water cylinder.
For further information on this scheme, take a look at the websites listed below.
Follow this link to an article on the subject from the Guardian:
We have been called by several customers recently worried by calls, and letters they have received from companies offering a supposed free maintenance check of their solar system, or offering to upgrade their current solar inverter with a more efficient product. These sales companies have even told customers that MCS have provided their contact details.
Please be assured that MCS do not give out customer contact details - and the old adage seems to be true 'if something sounds too good to be true - it probably is'.
We recommend that an inverter be swapped only when it has been become faulty, the systems do not need any servicing or maintenance.
Ofgem have announced an increase in the tariffs payable for Air & Ground source heat pumps, and Biomass boilers from April 2017.