Its official, massive cuts announced to the Solar Feed in Tariff subsidies!
The Department of Energy and Climate Change (DECC)has just announced what is happening to the Feed in Tariff (FIT). It is better news than we were expecting, with the initial consultation looking at an 87% reduction, they have settled on a 64% reduction. This means that the Feed in Tariff rates for Domestic solar installs will drop to 4.39p/kWh. These changes are set to come into force from 8th February 2016. However, in order to allow time for cost control measures they have decided to pause all new Feed in Tariff applications from 15th January. Effectively, anything not installed and the Feed in Tariff applied for by the 15th January 2016 will result in £260 less per year income for 20 years. Moving quickly will earn you an additional £5,200, all the reason to move fast! If you have been considering Solar, now is the time to act, if you are quick and decisive, we can still install a Solar PV system to beat the FIT reduction. This will get you an installed and commissioned Solar PV array, before this large reduction in the Feed in Tariff. The last date we can install panels is 12/1/16 for inclusion in the higher rate tariff. Currently the scheme requires that your property to have a minimum EPC rating of D post installation. Under the new guidelines it is suggested that this be increased to a minimum C rating. With over 20 energy saving measures to our arsenal of improvements we can help get almost any property to qualify for the higher rate. However, time is of the essence. Solar PV will greatly reduce your household bills by producing up to £500 worth of electricity each year and generate a good income on current rates. With ever rising demand on fuel and increasing energy bills, Solar can provide some insulation and protection against future price rises. With prices for a 4kW system as low as £4,900 Solar makes a great investment. We are expecting to be very busy over the festive period with this DECC announcement, so act now and beat the great Feed in Tariff drop! The good news is we are open almost every day, and you can contact us through our web site every day. We can move quickly and arrange install within a matter of days if you want us to. Dont miss out, contact us today to get accurate prices and income projections, and to see how much you could earn.