Energy regulator Ofgem has confirmed that the feed-in tariff (FiT) for solar-generated electricity will remain unchanged until the end of this year.
For people with installations between 0-4kW, the rate of return will remain at 14.90 p/kWh. For the 4-10kW band, the FiT rate is set to stay at 13.50 p/kWh.
Solar panels with a capacity of 10-50kW will see 12.57 p/kWh via the FiT, whereas both the 50-100kw and 100-150kW groups will gain 11.10 p/kWh.
The news has been welcomed by the solar industry, as it offers stability for sales of photovoltaic technology – especially during a time when the dispute between EU and China over solar panel sales and manufacturing is still prominent.
Although some agreements have been made in regards to minimum prices for the panels, there is still some tension between the two areas.
However, EU Trade commissioner Karel De Gucht is pleased with the new arrangement.
"After weeks of intensive talks, I can announce that I am satisfied with the offer of a price undertaking submitted by China's solar panel exporters," he told reporters.
However, the freezing of FiT rates will not only benefit businesses, but consumers will be given a boost, as they will no longer fear from regression rates being implemented for the rest of 2013.
Before the FiT rates were changed in July, June saw a huge surge in the rate of installations of solar panels, with 447,708 installations recorded across the UK. This accounts for a capacity of 1.6 million kW.
Despite experiencing a difficult start to the scheme, the Green Deal also saw an increase in assessments at the end of June, suggesting that more and more homeowners and businesses are showing interest in sustainable technology.
Luckily, both the Green Deal and the FiT can be accessed at the same time, ensuring that home and business owners make the best financial gain from the renewable system.