Many of us have already heard about the new Government regulation in the UK that would cut solar PV tariffs from 1st January 2014. However, it can easily be avoided if you choose to install your solar panels before the final date arrives.
Since the price of solar panels have been going down, more and more people would want to make use of this amazing technology to save money and achieve an excellent return on investment before the FIT tariff rates are changed in 2014! But why would you want to install solar panels on top of your property? This article will introduce you to some of the benefits of this technology while also shedding some light on the history and idea behind Feed-in Tariffs.
Whether it is money that you want to save or you just want to be more environmentally cautious, then you will definitely need to have this amazing power source installed to your property as well. The major benefits we think important to mention are as follows:
The payout could be more than 500 pounds a year for a small domestic PV system, but only if you start the process well before the New Year (2014).
It would mean a reduction on the electrical consumption, therefore reducing you electricity costs.
Since energy prices are expected to increase between 8 to 15% in the upcoming year (with more increases to come) by installing solar panels on your property, you could expect an extra income return than originally anticipated.
Whether you are an individual or a business, installing solar power can have tremendous amount of positive effect on how your community perceives you as a person and/or as a business. Also, if you choose to use alternative power solutions, it is likely that others will follow that is very important from an environmental standpoint.
The tariff period is now 20 years, so if you act now, you will be secured from any changes regarding rates or inflation for the next two decades.
The list of benefits could further be listed, but I believe that we have managed to grasp the main idea behind the relevance of such practice.
Feed in Tariff
As for the Feed-in Tariff, they were introduced in 1 April 2010, and they have been implemented as a financial incentive to encourage the uptake of renewable electricity-generating technologies within the general population. It is the Department for Energy and Climate Change (DECC) within the government of the UK that has a role over Feed-in Tariffs.
The main essence of this regulation has been to ensure large and small energy suppliers make FIT payments to those who generate their own electricity, and then allow for these suppliers to have the energy surplus transferred to the power suppliers themselves.
In exchange for this electricity, large and small suppliers are entitled to pay an amount of money on a kWh basis. Now this has meant so far both a stable source of income and also a means of reducing electricity consumption by generating your own electrical supply. The current FIT tariffs are about to commence changes in the New Year from the 1st January 2014.
All things considered, having a solar system installed is not as easy as it first sounds. You have to make sure that you are eligible for such technology. To get FITs at the standard rate, your property must have an Energy Performance Certificate of band D or better. This is where we can help you to ensure you receive an accurate energy performance assessment and advise you on how to improve your energy performance rating and advise you the most cost effective solution to improve your EPC, “Our EPC+ service”.
That for solar PV:
Energy Performance Certificate (EPC): Evidence of property’s EPC rating will be required when applying for FITs. If no evidence showing the EPC has a band D or higher then the lower rate will paid to you. Therefore, contact Low Carbon Energy Assessors (LCEA) Ltd for a free EPC quotation.
Export Tariff: You have the chance of getting 4.64p/kWh from every unit of energy that you send back to the supplier grid. Since there are times when you have to use less energy than you require, it is an excellent way of getting hold of some extra income.
Lifecycle: the tariff period (lifetime) is now 20 years
Deployment: the tariffs are to be reviewed every three months and will be revised according to deployment rates.
Energy Bill savings: Using less “borrowed” power from energy suppliers means you have to pay less when the electric bill arrives on your door step.
Summary of the fourth quarterly (4Q) 2013 Solar PV Tariffs:
The current 4Q/13 – v – New Q1/14 (2014) Tariff FIT Rates: The smaller tariff bands will remain unaffected by tariff rate degressions as illustrated below. However a degression level of at least 3.5% will likely to take place from April 2014. PV installations over 50kW will be affected by a mandatory 3.5% reduction in FIT rates from the 1st January 2014.
The new FiT rates will apply from 1st January 2014 until at least 1st April 2014 and likely to change again in April 2014.
We have so far mentioned a number of benefits that could serve as evidence why the use of solar energy for your property before the revised FIT tariff rates are introduced from the 1st January 2014 would be a reasonable decision on your part.
This article intended to give you some general information about solar energy, Feed-in Tariffs as well as to give you some tips on how to save energy, reduce your energy costs and reduce your carbon footprint.
Act and have your own solar PV installed as soon as possible and ensure you instruct independent, experienced and accredited energy assessors like us at Low Carbon Energy Assessors (LCEA) Ltd.