The Department of Energy and Climate Change (DECC) have finally released its Comprehensive Feed-in Tariff (FIT) Review.
After weeks of speculation, the results of the FIT review are announced following a leaked document last week.
Please see full anouncement here:
The document proposes to cut the domestic feed-in tariff from 43.3p to 21p per kWh.
The new rate is what the industry expected, and the document leaked by the Energy Saving Trust on 28 October had already given a strong indication of what was to come.
What is causing more issues is the proposed timescale. The DECC has decided to apply the lower rate to all systems installed after 12 December this year, meaning those considering solar power now have just a few weeks to order and install systems and receive the higher return on investment.
Eos Solar are doing our very best to honour any outstanding orders and quotes please call us today on 01825 880600 for information. Please note we will only be surveying in the South East untill 12 Dec 2011.
The future after the cuts
At Eos Solar we are positive about the future despite the government cuts. We expect the price of panels and other solar equipment to drop following this announcement. We anticipate that we can still offer a return on investment of 6-9% tax free for 25 years, for homes and small business. This coupled with lower electricity bills and protection on ever increasing traditional energy bills still makes solar a sound investment.
Having a green home to be proud of and hugely cutting your C02 emissions in the process and the added value to your home is not to be forgotten in all of this FIT’s news!!
As well as reducing feed-in tariffs, the DECC proposes that homes must reach a certain energy efficiency standard to qualify – likely to be an Energy Performance Certificate at level C or above.
If you would like to lobby against the Government cuts to the Feed in Tariff please follow this link.