Ofgem confirms 3.5% drop in solar FiT from April 2015
Feed-in tariff (FiT) rates for domestic sized solar photovoltaic systems are set to fall by 3.5% on 1st April 2015 to 13.39p/kWh for a 0-4kWp system. This reduction is due to the increasing popularity of solar PV, with 2014 showing strong installation rates and growth on the previous year.
FiT rates are reviewed each quarter by the government and reduced if the number of solar PV systems installed meets a trigger value, which was the case for this past quarter. You can visit our information pages to learn more about how feed-in tariffs work or use our handy solar PV calculator to see how much money you could make from installing solar in your home. Reaching this level of installations is great news for the growth of renewable energy in the UK, but what does it mean for anyone having solar PV panels installed in their home?
FiT Rate Changes for 2015
There will be no change to the 10-50kW tariff, but both 0-4kW and 4-10kW installations will be affected. The changes outlined below will apply to domestic solar PV installed from 1st April 2015 up until 1st July 2015:
The export tariff will rise from 4.77p/kWh to 4.85p/kWh for those with an energy performance certificate of level D or above.
Find more details on the alterations in our feed-in tariff rates table.
How FiT Rates Work for You
The feed-in tariff has been available to UK solar users since 2010 and has incentivised many people to adopt renewable energy. This 3.5% drop should certainly not be off-putting to homeowners, who can still earn a considerable income from both generation and export tariffs each year. Now really is the best time to install solar in your home to guarantee that you won't be affected by any future drops in feed-in tariff rates for the next 20 years.
If you are looking to make the switch to renewable solar energy, we can provide you with 3 free, non-obligation quotes. Fill out our simple quote form today and we will put you in touch with MCS accredited installers offering solar at competitive prices in your area.