The government has mandated that your electricity supplier must pay for each unit of electricity generated PLUS a further payment for every unit exported to the National Grid.
These rates are guaranteed for 25 years and are index linked, so you have security of your income as well as free energy during daylight hours.
Typical domestic installation
If you installed a typical 4kWp solar PV system costing around £15,000 the FiT would generate the following income:
£1418.00 per year tax-free from the generation tariff
£51.00 per year from the export tariff
£412.00 per year from the reduction in current electricity bills
£1881.00 Total income per year
Typical commercial installation
If you installed a typical 20kWp solar PV system costing around £65,813 the FiT could generate the following income:
£5458.00 per year tax free from the generation tariff
£261.00 per year from the export tariff
£1564.00 per year from the reduction in current electricity bills
£7283.00 Total income per year
