On 19 July 2018 the Department of Business Energy and Industrial Strategy (BEIS) published a consultation in which they state their intention to close the FIT scheme to new applicants from 1 April 2019, barring several exceptions. OFGEM have published an FAQ which helps explain the implications these proposals would have if they are introduced. If you have questions about the consultation, please contact BEIS at email@example.com.
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- Anyone planning to install a solar system of some sort will be interested in, not only the green credentials, but they will be looking at the financial aspect too.
You will have heard of things like Feed in Tariff’s, Renewable Obligations, and more confusing terminology but what is in it for you and your business?
This page is dedicated to helping you understand the terminology involved in the planning of a Solar installation.
Let’s start with the Feed in Tariffs or FIT scheme.
The Feed in Tariffs or FIT scheme is available for anyone who has installed or planning to install a solar installation or a wind powered installation. It also includes renewable projects such as Micro combined heat and power (CHP), Hydro powered systems and Anaerobic digestion.
Payments are usually made quarterly for the electricity produced by your installation, just like your electricity meter works at home, payments are based on meter readings that you give to your energy supplier, in this case they are called your FIT licensee. Payments will start to be paid by your energy supplier from the date your application is granted.
FIT applications are capped, you join a queue to enter the FIT scheme, and no pushing, please!
For smaller installations, 50KW or less the applications are judged by the date and time of the installations MCS certificate was issued.
For larger installations, larger than 50KW up to 5MW are judged by the date and time the application was received by Ofgem.
Should you be the owner of an installation and apply to the FIT Scheme, you become a Generator, you receive payment for the energy you produce from a Licensee.
To apply for a small installation Feed in Tariff, you will need a Microgeneration Certification Scheme (MCS) certification. For domestic installations you will also need an Energy Performance Certification (EPC) rated D or above. This needs to be issued before you commission your installation to ensure you get the highest FIT tariffs.
So what’s in it for you?
The following links take you to the up to date information on the Ofgem Website and sets out the tariff rates for the Feed-in Tariff scheme for FIT installations of all technologies for the period 1 July 2018 – 31 March 2019.