The Feed-In Tariffs (also known as FITs) were introduced by the Government in April 2010 to help increase the level of renewable energy in the UK, towards a target of 15% of total energy from renewables by 2020. The tariffs are used to incentivise people to use solar power, encouraging us all to be more environmentally responsible. The tariffs were produced to subsidise the initial cost of installing a solar power system, and earn a return of up to 13% p.a. The FITs are guaranteed for 20 years, and are scheduled to be open to new installations until the end of March 2021.
FITs are available to everyone, including households, landlords, businesses and organisations such as schools and care homes. This means that you can rely on an additional income, purely from capturing the suns free energy.
The main benefits of the FIT are;
Earlier this year much publicised changes were made in the Solar PV sector, seeing the FITs cut and new measures brought in for new installations. Although by many this was seen as bad thing for the sector, we at TLGEC believe that there is still no better time than now to install solar panels. The FIT’s may have been reduced, but the cost of installing a solar power system has greatly reduced, ensuring that the return on your investment remains high.