New Solar Panel Tariff
New Feed In Tariff has been announced by the Department of Energy and Climate Change (DECC). From August 1 the new rate for 4kW systems will be 16p/kWh, set in line with current installation figures.
The latest tariffs are aimed at providing the same returns as originally set out, enabling customers to achieve a return of at least 6% but with the falling prices of systems such as SolarGen solar panels and ET solar panels from Absolute Solar returns could well be higher.
The new tariff rates of 16 pence per unit covers new build and retrofit to existing houses.
“This simplification provides clarity and simplicity to customers says” Dean Bliss MD of Absolute Solar “and we are working hard with our suppliers to provide cost effective solar panel solutions which will provide high energy conversion combined with a great return for our customers.”
Domestic Solar Tariff 16 pence
The tariff for a domestic solar installation will now be 16p/kWh, down from 21p, and will be set to decrease on a three-month basis by 3.5% thereafter, depending upon the rate of uptake of solar panels.
The other major change to the new tariffs, is that they will be paid over only 20 years instead of 25 years, should give a return on investment (ROIs) of over 6% for most typical, well-sited domestic installations, and up to 8% for the larger often commercial systems.
Increase in Export Tariff
Another major change is the increase in the export tariff, which will increase to 4.5p from 3.1p, a particular benefit for large-scale solar investors, who will be able to add the export tariff to the feed-in tariff in order to generate a reasonable return on investment. All tariffs will continue to be index-linked in line with the Retail Price Index (RPI).
The governments aim for the UK solar market is to install at between 800MW in to 1,000MWp each year up to 2015, with a goal of achieving 22GW for 2020.
Buy Your Solar Panels Now at 21 pence Tariff
If you are looking for solar panels for your home or office then call Absolute Solar 08009546134 and get your solar panels with 21 pence Feed in Tariff.