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Feed in Tariff Scheme - How It Works
A scheme backed by the government that encourages homeowners to generate their own electricity by offering financial incentives.
The current rate for domestic installations is 21 pence for every unit (kilowatt hour) that your system produces. This means that you could be earning up to a 9.7% return on your investment. Solar offers you the chance to protect yourself from rising energy bills, make a return on your money and be producing green energy.
How exactly do I earn and save money?
Reduction in Energy Bills
Your solar System will generate electricity that is fed into your home, this electricity will go towards powering appliances that you use during the day. As electricity bills rise your earnings will increase more rapidly over the 25 year period of the scheme.
Payment for electricity you don’t use
Your electricity company will pay you 3.1 pence for the units of electricity that you don’t use. You can choose whether to have this metered or not. The majority of customers let their energy companies make a 50% assumption. They assume 50% of what your system produces you use and the other 50% they buy back from you at the 3.1 pence.
Feed in Tariff (incentive tariff)
On top of your savings and earnings above your energy supplier will pay 21 pence on every unit (kWh) that your system produces, no matter if you are using it in your home or selling it back to your supplier.
An Example of How This Works:
Install 16 Solar PV panels Onto a South Facing Roof with minimum shading
System Size: 3.92 kilowatt peak (kWp)
Estimated production of the System: 3,365 Kilowatt hours (kWh)
Reduction in electricity bills: £218
Payment for electricity you don’t use: £52
Feed in Tariff: £707
Reduction in bills + payment for electricity you don’t use + Feed in Tariff payments = Annual Cost Saving
Annual Cost Saving in the first year = £977
Average installed Cost : £10,000
Return On Investment: 9.7% ROI
* Based on an Estimated SAP report: Assumes 13 pence for current per Kw/h, 50% usage and 50% export from self generated Solar PV electricity, - under 4KW system @21 pence and 3.1 pence export.
Remember this is Tax – free and inflation linked to the RPI.
Local Solar and Wood Burning Stove installers throughout Sussex:
Kingsley Eco Solutions are the number one installer for Solar Panels and Wood Burning Stoves throughout Sussex. From our showroom, offices and warehouses in Ferring near to Worthing in West Sussex we have installed in the following areas: Ferring, Worthing, Littlehampton, Rustington, Arundel, Ford, Barnham, Selsey, Chichester, Yapton, Pagham, Bognor, Shoreham, Lancing, Pulborough, Ashington, Storrington, West Chiltington, Horsham, Haywards Heath, Lewes, Eastbourne, Midhurst, Crawley, Hove, Brighton, Newhaven, Peacehaven, Rottingdean, Lindfield, East Grinstead, Hassocks, Burgess Hill and Billingshurst.
The current rate for domestic installations is 21 pence for every unit (kilowatt hour) that your system produces. This means that you could be earning up to a 9.7% return on your investment. Solar offers you the chance to protect yourself from rising energy bills, make a return on your money and be producing green energy.
How exactly do I earn and save money?
Reduction in Energy Bills
Your solar System will generate electricity that is fed into your home, this electricity will go towards powering appliances that you use during the day. As electricity bills rise your earnings will increase more rapidly over the 25 year period of the scheme.
Payment for electricity you don’t use
Your electricity company will pay you 3.1 pence for the units of electricity that you don’t use. You can choose whether to have this metered or not. The majority of customers let their energy companies make a 50% assumption. They assume 50% of what your system produces you use and the other 50% they buy back from you at the 3.1 pence.
Feed in Tariff (incentive tariff)
On top of your savings and earnings above your energy supplier will pay 21 pence on every unit (kWh) that your system produces, no matter if you are using it in your home or selling it back to your supplier.
An Example of How This Works:
Install 16 Solar PV panels Onto a South Facing Roof with minimum shading
System Size: 3.92 kilowatt peak (kWp)
Estimated production of the System: 3,365 Kilowatt hours (kWh)
Reduction in electricity bills: £218
Payment for electricity you don’t use: £52
Feed in Tariff: £707
Reduction in bills + payment for electricity you don’t use + Feed in Tariff payments = Annual Cost Saving
Annual Cost Saving in the first year = £977
Average installed Cost : £10,000
Return On Investment: 9.7% ROI
* Based on an Estimated SAP report: Assumes 13 pence for current per Kw/h, 50% usage and 50% export from self generated Solar PV electricity, - under 4KW system @21 pence and 3.1 pence export.
Remember this is Tax – free and inflation linked to the RPI.
Local Solar and Wood Burning Stove installers throughout Sussex:
Kingsley Eco Solutions are the number one installer for Solar Panels and Wood Burning Stoves throughout Sussex. From our showroom, offices and warehouses in Ferring near to Worthing in West Sussex we have installed in the following areas: Ferring, Worthing, Littlehampton, Rustington, Arundel, Ford, Barnham, Selsey, Chichester, Yapton, Pagham, Bognor, Shoreham, Lancing, Pulborough, Ashington, Storrington, West Chiltington, Horsham, Haywards Heath, Lewes, Eastbourne, Midhurst, Crawley, Hove, Brighton, Newhaven, Peacehaven, Rottingdean, Lindfield, East Grinstead, Hassocks, Burgess Hill and Billingshurst.
