The Department of Energy & Climate Change (DECC) are currently reviewing the future rates of Feed in Tariff (FiTs) for new Solar PV installations. NB. This does not apply to existing installations.
We have seen proposals – currently being consulted on and not agreed – to HALVE the Feed in Tariff from the current 43.3p/kWh, for <4kW installations, to just 21p/kWh for NEW installations after the 8th of December. It seems that the government have realised that, with the decreasing cost of solar panels and the low rate of market return on savings, the rate of return on Solar Photovoltaic installations is very attractive and wants to cut it.
So, if you want to benefit from the current attractive rate of return on Solar PV we highly recommend you get in touch as quickly as possible as it would seem that your panels might need to be installed and signed off on your roof in a very very short time period to benefit from the current rate (for the entire life of the solar panels)!
Although Solar PV will continue to be a good investment this would in truth mean a longer payback period for your investment if signed off after December the 8th.
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