The feed-in tariff scheme is administered by Ofgem who maintain a register of all installations and publish a guide to how the administration of the scheme works and the full rates for the various different technologies and system sizes to which the scheme applies
The feed-in tariff is a scheme designed to incentivise home owners and others to invest in renewable energy such as a solar photovoltaic system by providing a high level of income from the energy generated by these systems. Under the feed-in tariff scheme not only do you benefit from the savings you make by not needing to purchase your own generated electricity from the grid, and selling any surplus but you also get paid a fixed rate for all the electricity you generate even if you use it all yourself!
For a typical household system costing about £13,000 your combined income and savings in the first year would be approximately £1,250 rising to about £1,650 in the 10th year and up to £2,600 in the 25th year, as the feed-in tariff payments are index linked and guaranteed for a full 25 year term.
The rate of income on existing buildings is determined by the size of the system and the current rates are as detailed below: |