Anyone thinking about solar power is likely to be aware of the Feed-In-Tariff.
This is the quarterly government payment, index-linked and guaranteed for 20 years. That’s right. Free money for sunshine.
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However, the Tariff now only applies for new systems registered before the end of March 2019.
How Much Will you Get?
The new figures are available for this final quarter and the headline numbers are as follows:
- Generation tariff – 3.79 p per kWh generated
- Export Tariff – 5.24 p per kWh generated, for 50% of your generation
The full details of the Ofgem tariffs can be found here.
So an example might be as follows:
A 4.4 kWp Solar array angled 60 degrees from South, and with a roof pitch of 35 degrees. Somewhere near Luton.
This will give an estimated annual generation of 3,898 kWh. This could therefore earn you (cash in hand):
- £151 generation tariff
- £104 export tariff
Total: £255 per year income for 20 years
And remember this is index linked.
Your generated energy will also save you electricity. If you use 50% of the solar you generate and save yourself 15 p per kWh, then that will reduce your bill by a further £299 a year.