October 2015 sees Feed in Tariff (FiT) rates fall by 3.5%
Ofgem has published the Feed-in Tariff (FiT) rates that will come into effect from 1 October until 31 December 2015. The new FiT rates will see a reduction of 3.5% for systems of various capacities.
The drop is the result of the quarterly digression for FiT rates that occurs when solar deployment targets are met. A 4kWp system previously sat at 12.92p/kWh but has fallen to 12.47p/kWh from 1 October. The below figures show the new FiT rates for smaller scale solar PV systems:
The export tariff, paid to homeowners for the solar electricity they sell back to the grid, will remain at 4.85p/kWh. The full table of FiT rate changes can be found in Ofgem’s official Payment Rate Table for Photovoltaic Eligible Installations.
Solar Feed-in Tariff cuts in 2016
The FiT has been a highly discussed topic in recent months due to the release of a Government consultation outlining potential cuts of 87% to the FiT for domestic solar installations. Whilst this large drop is still at the consultation stage, homeowners who wish to take advantage of the FiT at its current level are urged to install solar panels as soon as possible.
How to benefit from the current FiT rate
In order to receive the FiT rate as it applies now, make sure to have your solar panel system installed by an MCS certified installer with an eligibility date before 01 January 2016. You can get free solar quotes to compare using Solar Guide’s simple online application form.