Friday, 4 March 2016

Solar Panel Feed in Tariff Rates April 1st 2016.


Sometimes, just sometimes inflation is fun.



When our system was installed in June 2011 life, including the Feed in Tariff rate was much simpler. 


Successive governments have encouraged and then discouraged suppliers and householders by constantly tinkering with the rates.

Obviously FiT rates need to reflect the current installation cost, but energy Ministers have decided to alter the rates several times a year sometimes. 





For those of us fortunate to have been early investors the rate increases on April 1st 2016 by the RPI rate in December 2015. (1.21%).

The new rate of 49.43p per kWh generated with an additional 50% of the 3.48p export rate. This gives a total rate per kWh of 51.17p that your FiT provider should be paying for all electricity generated for the period 01/04/2016 - 31/03/2107.





My system was installed in June 2011. The FiT rate at that time meant that I received 43.3p for each kWh generated. 


April 1st 2012 saw the rate increased to 45.4p based on the inflation rate of 4.8% the previous December.


April 1st 2013 saw the rate increased to 46.8p based on the inflation rate of 3.1% the previous December.

April 1st 2014 saw the rate increased to 48.07p based on the inflation rate of 2.7% the previous December.

April 1st 2015 saw the rate increased to 48.84p based on the inflation rate of 1.6% the previous December.

On April 1st 2016 the rate will rise to 49.43p based on an inflation rate of 1.21% in December 2015.

As you can see inflation has fallen each year since 2011, but the FiT rate (including 50% export tariff) has risen from 44.85p to 51.17p, that's an increase of 6.32p (12.35%)

You can see how your rates will rise using this link







Icarus 
Twitter: (@solaricarus)

1 comment:

  1. Interesting people slag of the utility companies for making (or loosing in some cases) millions in profit but it's fine for joe public to get paid close to 10x their rates for electricity generation that doesn't even work at peak demand. Now that FIT is effectively cost neutral (in terms of new/current installs) installs have plummeted...Goes to shown been green isn't of interest to anyone..as always it's all about £ssssssssss

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