Feed In Tariff Rates Increase By 4.8% as of 1st April 2011.

Homeco Energy is very pleased to be able to confirm the increase of the Feed In Tariff (FIT) rates for solar PV installations.

The existing FIT rate of 41.3 p/kWh was already a good deal for homeowners looking to install solar PV to their properties and meant that payback periods were generally between 8 and 10 years.

Now that payback period will be cut even further as we can announce that the FIT rates will increase by the Retail Price Index from 1st April 2011. This is an increase of 4.8%.

In practice this means that domestic and commercial clients who already have a solar PV system installed will now receive 43.3 p/kWh on systems up to 4 kWh-p as of 1st April 2011. Clients who have PV installed after this time but before 31st March 2012 will also receive this rate.

The FIT is paid on all electricity that the system produces, regardless of whether you use it or not. Any excess that is produced is automatically exported back into the grid for which you receive an export income. Currently this export income is 3 p/kWh, however this is also increasing by 4.8% from April.

The FIT rates increase annually in line with the Retail Price Index (RPI) and are guaranteed for 25 years.

If you require any further information regarding solar PV or the feed in tariff please feel free to call or email.