Feed in TariffIn April 2010 the government introduced the Feed In Tariff for solar PV (Photovoltaic) systems to encourage people to invest in solar energy. Set at a level to offer homeowners and investors an attractive return on their outlay, the feed in tariff has been well-received with many people installing solar systems to take advantage of the enormous benefits the scheme offers. |
Installing solar panels to generate electricity reduces the amount of electric the consumer would normally purchase from an energy supplier, thus resulting in lower household fuel costs. As energy prices continue to rise over the impending winter months, savings will continue to increase. For each unit of electricity generated and used, the consumer will earn 21.0p. Any excess energy (unused) gets exported back to the National Grid, and is contracted to be bought for a further 3.1p by the energy provider.
