Feed-in Tariff pays-out £180K in first two months
The Feed-in Tariff for the generation of electricity using small-scale onsite renewable technology has paid out a total of £182,059 between the time the incentive was launched on April 1 and June 30 according to energy regulator Ofgem.
The Feed-in Tariff allows homeowners, businesses and communities to receive money from the government for every unit of energy they generate through green technologies, and an extra payment is available for any surplus electricity that's fed back into the grid.
According to the figures from Ofgem, the 2,771 new installations registered in the opening two months of the scheme have generated 15.2MW of electricity.
Ofgem has already confirmed in the four months since the Feed-in Tariff went live, 6,850 new installations registered for the scheme along with another 2,500 that transferred over to the tariff from the old Renewable Obligation incentive.
The most recent figures from Ofgem have shown solar photovoltaic panels are the choice renewable option with 44 per cent of the installations up to June 30 being solar PV panels. 35 per cent of the installations were wind turbines and 21 per cent have been hydro power systems.
Out of all the installations, the majority of technologies were added to homes. A higher-than-expected 40 per cent of installations were taken up by businesses in the commercial sector showing that many firms are already acting to meet their energy obligations.
The pay-out from the government is set to rise even more for July and August with a record number of solar PV installations being carried out in consecutive months. In fact, up until the end of August, 8,037 solar photovoltaic installations have been fitted since the Feed-in Tariff was first launched.