Feed in Tariff review – what it means for you

As the Department of Climate Change (DECC) announce the latest news regarding the review of the government Feed-in-Tariff (FiTs) scheme, we ask; what does the review mean for you?

The key points:
> A fast track review of the FiT scheme will see a reduced tariff applied to all installations completed and registered after 12th December 2011
> Installations completed before this date will be unaffected
> Installations after the 12th December will continue to receive the current higher rate until the 31st March 2012
> As of the 1st April 2012 the reduced rate will apply to all installations completed and registered after 12th December

Climate Change and Energy Minister Greg Barker said:
“My priority is to put the solar industry on a firm footing so that it can remain a successful and prosperous part of the green economy, and so that it doesn’t fall victim to boom and bust.”

Since the DECC announce the review our team of energy specialists have been working to ensure all existing installations booked with Gregor will benefit from the current rate as we endeavour to move all current installation bookings for completion before 12th December.

If you are concerned about how the review will effect your installation please call your dedicated installation manager at Gregor who will be happy to discuss on an individual basis in more detail.

The full report is available to download from the DECC website, visit http://www.decc.gov.uk or click here for the pdf report

The decision comes after concerns for the cost involved in the higher FiT rates, there is limited funding allocated for the FiTs scheme to control the impact on energy consumers who pay for the scheme through their bills.

The DECC reports:
“If the Government took no action, by 2014-15 FITs for solar PV would be costing consumers £980 million a year, adding around £26 (2010 prices) to annual domestic electricity bills in 2020. Our proposals will restrict FITs PV costs to between £250-280 million in 2014-15, reducing the impacts of FITs expenditure on PV on domestic electricity bills by around £23 (2010 prices) in 2020.”

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Posted on: Author: asap_Qu1n