Fast-track FIT review revealedMarch 18, 2011
The Minister of state, Greg Barker, has revealed today the proposed new Feed-in tariff rates. These are proposed rather than final, while they undergo a consultation period.
The government have proposed rates to come into effect for any installations that are connected after August 1st 2011. These do not effect anything below 50kWp, but instead concentrate on larger installations that distort funding for smaller and domestic scale installations.
The proposed tariffs are:
- >50kW – ≤150kW: 19p/kWh
- >150kW – ≤250kW: 15p/kWh
- >250kW – ≤5MW: 8.5p/kWh
These might appear a big drop in the rates, but in reality its just bringing the investment performance back to the original government targets. Based on current prices, solar systems installed after 1st August will still deliver 8% return on investment.
Return on Investment
FiT Rate (p/kWh)
To get the current amazing returns upwards of 12%, you just need to be connected before the beginning of August. EvoEnergy can help you to push through your project to be delivered in time, contact our team to see how we can help you.
- Anything under 50kWp has not been affected and will continue to receive the higher rate.
- The DECC will now seek views on the proposed tariffs until May 6th 2011.
- Any changes agreed will only affect new entrants to the FiT scheme; the Government will not act retrospectively.
- It is proposed that any changes take effect from August 1st 2011, subject to the outcome of this consultation and Parliamentary scrutiny.
- These rates will still be RPI (Retail Price Index) linked and therefore will increase with inflation.