What is the Feed in Tariff?
The Feed in Tariff (FIT) scheme offers guaranteed cash payments to households who produce their own electricity at home using renewable technologies such as Green Yorkshire Solar PV.
The scheme launched in April 2010 to reward households and community groups in England, Scotland and Wales (but not Northern Ireland) who install their own electricity-generating ‘microgeneration’ technology with regular and guaranteed payments from the government (which are paid for through a levy on all consumers’ energy bills).
How do Feed in Tariffs work?
There are three savings elements to the Feed in Tariff.
Generation tariff is a fixed-rate payable to households for the total amount of electricity generated, calculated per unit. The rate you’ll receive is determined by when you first registered to join the FIT scheme and the type and size of installation.
Export tariff is payable on the units of electricity you export back to the national grid because you haven’t used them in your own property. In the case of most small-scale the level of electricity exported is currently calculated on a 50% assumption (called a ‘deemed export’).
Savings on your electricity bills because you’ll be generating a portion of your household electricity yourself, your energy bills will be lower.
Green Yorkshire Solar makes sense!