FIT or the Feed-In Tariff, became available in the UK last April 2010. It is basically a scheme backed by the government for paying people who generate their electricity by using green or eco-friendly technology, such as solar panels. According to Ofgem, which regulates and manages the gas and electricity markets in the UK, the scheme is open to everyone — homeowners, businesses, landlords, organisations and communities like village halls and educational institutions.
What are FIT Payments for and How Much?
The FIT scheme guarantees qualified individuals and organisations a minimum payment for the electricity they generate and an extra payment for saved electricity that they could export to the grid. This is known as the Export Tariff and the Generation Tariff. You could benefit from these payments by decreasing your utility bills since you will be using electricity that you produce on your own.
The payment you could receive is dependent on the size and type of system you will be using for producing renewable energy. If you are planning to install solar PV technology, Ecolution says you stand to receive a per-kilowatt-hour payment. Apart from that, you could likewise receive an additional payment of 4.91p for every kilowatt hour of electricity that your generate and export back to the grid.
What are the Qualification Requirements and Limitations of The FIT?
Anybody that uses a system for renewable electricity capable of producing five megawatts and below is could qualify for the FIT. The system could be used on only one property, whether for business or personal use, or collectively used by an organisation or community. While solar PV is considered the most popular alternative of renewable energy, it s not the only eco-friendly technology that could qualify for the FIT. Other green technologies that qualify include hydroelectricity, wind turbines, micro-combined systems for heat and power, as well as anaerobic digestion.
It is extremely crucial to note however that the available tariffs and their receiving process will differ based on when you had the system installed and whether you explicitly followed guidelines on using solar panel installers that are certified under the MCS or Microgeneration Certificate Scheme.