Latest press notice news from DECC (department of economic climate change) on 24th May it was announced that to put the Feed-in-Tariff scheme on a more predictable, certain and sustainable footing for householders, businesses and the solar industry, the government is introducing a range of changes to the FITs scheme with effect from 1st Aug.
The tariff for a small domestic solar int will be 16p per kilowatt hour, down from 21p and will be set to decrease on a 3 month basis thereafter, with pauses if the market slows down. All tariffs will continue to be index-linked and the export tariff will be increased from 3.2p to 4.5p
The new tariffs should give a return on investment of over 6% for most typical installs and up to 8% for larger bands.
We are being told by Energy and Climate change Minister Greg Barker that ” The reforms being introduced provide a strong, sustainable foundation for growth for the solar sector and we can look with confidence to a future for solar to play a significant part in Britain’s clean energy economy’.