Hip Hip Hooray!

Ofgem has just released the new figures for Feed-in Tariff (FIT) payment for2011/2012, and as promised, they have been increased in line with the Retail price increase, meaning that they’ve gone up a whopping 4.8% !

Just click here: to download the latest FIT Payment Rate Table for 2011/12

So just what does it mean for Solar PV owners?

Well, instead of earning 41.3⁽¹⁾ pence per kWH you will now be getting paid 43.3 pence per kWh, meaning that your pay back period will be even quicker than we estimated (we had assumed an increase of only 3.5%), and your FIT payments cheques will be even bigger!

Important NOTE from Ofgem: –

Because from 1 April 2011 all electricity generated and exported by accredited installations will receive the adjusted tariff, it is important that the existing generators take a meter reading on 31 March 2011. In the absence of such a reading, FIT Licensees will calculate what proportion of electricity has been generated and exported until 31 March 2011, and what proportion has been generated and exported from 1 April 2011. They will then apply the relevant tariff to the generation and export electricity.

This is good news for all of our existing customers that have installed systems under the FIT scheme over the last 12 months and even better new for those considering it or planning to have it installed this year.

Also don’t forget that the Government has announced its review of the FIT scheme due to the massive number of Solar PV farms (see this post for more details on that), meaning that now is an even better time to get on and get your system installed.

For a free, no-obligation quotation, just give us a call at Worcester Renewables, on 0844-453-5591 or click here: Quote Me