Financing

Financing

Are you eligable for financing, under the goverments FIT scheme

Under the government’s feed-in tariff (FIT) scheme, you will be paid for every unit (kWh) of electricity you generate, regardless of whether you use it or not!

The FIT scheme was introduced in 2010 and since its launch it has encourages thousands of UK homeowners to have solar PV installed on their home. The savings you can make from using your own power, plus the FIT, makes solar PV one of the best investments around.

How it works

The feed-in tariff is guaranteed by the government for 20 years, index linked so it rises in-line with inflation and payments are tax free if you live in the property.

There are three financial benefits to having a solar PV system installed
Generation Tariff + Export Tariff + Bill Savings = Total Annual Benefit
Eligible systems

To claim the tariff system must meet the following criteria:

  • Your installer must be Microgeneration Certification Scheme (MCS) accredited.
  • Your energy supplier must offer FIT payments (see list of energy suppliers – https://www.ofgem.gov.uk/environmental-programmes/feed-tariff-fit-scheme/applying-feed-tariff/registered-fit-licensed-suppliers)
  • Your solar panels must also be MCS approved.
  • You must meet the necessary energy performance certificate (EPC) requirements of grade D or above (solar PV will improve your rating)
FIT Degression

Every quarter the FIT will be reviewed and dropped in line with the total number of installs. So ultimately the more properties that have solar PV installed the lower the Feed-In Tariff rate becomes. The average drop rate is 3.5% every quarter, however this can change as it will always depend on the net installs for that quarter.