Wednesday, 5 February 2014

Solar FiT rates April 1st 2014 - March 31st 2015.

Rising Faster Than Prices
Did you take a note of the BBC news in January when they reported the inflation rates for December 2013?


They and the Government made great play about CPI inflation rate finally falling to the target figure of 2% for the first time since November 2009. What they made less noise about was the RPI rate rose by 01% in December to 2.7%.




Why is the 2.7% rate significant to solar panel installations? 


The good news is our FiT rates from April 1st 2014 are determined by the RPI rate the previous December. 





How the individual rates will rise is complicated.




As you're probably aware the rates are reduced regularly to reflect the reduced costs involved in installations and to encourage energy efficiency. You can check how it will affect you using this link.




My system was installed in June 2011 and fall into the new band rate of 48.07p per kWh. The export rate rises to 3.39p per kWh. You should note that only 50% of the export rate is applicable for most installations unless you have an export meter connected.




FiT rates 01/04/2014


46.81 p
Rises to
48.07p
21.65p
Rises to
22.23p
16.5p
Rises to
16.95p

Export rates 01/04/2014 
3.30p
Rises to
3.39p
4.60p
Rises to
4.77p


If you're altering your Sunny Beam monitor when the new rates start in April you'll need to alter the existing rates to the combined totals below. See this link for details of how to do it.



New combined rates
48.46p
Rises to
49.765p
23.30p
Rises to
23.925p
18.30p
Rises to
19.335p

FiT rates rising in line with inflation. What a great investment.


Icarus 
Twitter: (@solaricarus)

4 comments:

  1. Few corrections: |46.8 is 46.81|21.7 is 21.65|22.3 is 22.23|

    15.44 increase to 15.86 is worth a mention been the 3rd most pop Tariff.

    ReplyDelete
    Replies
    1. Thank you for your input. I've rechecked the figures and amended as suggested.

      Delete
  2. From NewGen: "New applicants to the feed-in tariff from 1 April will get a lower rate of feed-in tariff as part of the planned 'degression'. The rate for solar PV installations of 4kWp or less will fall from 14.9p per kWh to 14.38p. The export rate will increase from 4.64p per kWh to 4.77p. This is the first drop in the tariff rate for solar PV since July last year. Rates will also reduce for most of the other technologies for generating renewable electricity. There is likely to be a mini rush to get installations in by midnight on 31 March 2014, so it's worth contacting an installer now if you want to benefit from the higher rate for solar."

    ReplyDelete
  3. I have spent 20 minutes to try and find out the rise for a historical installation. Delighted to know what it now is, and used your handy guide to set my sunny beam. Sadly, they aren't made any more!

    ReplyDelete