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Everything you need to know about the new FIT scheme

1) What is the FIT scheme?

 

 A. The UK Government has announced the world’s first incentive scheme for renewable energy. With Feed-In Tariffs (FIT), you are rewarded for generating your own electricity.

 

 

2) What FIT rate will I earn for my home?

 

 A. You could earn up to 41.3p per unit (Kwh) you produce – that’s four times the market cost of electricity – even if you use it yourself. You also earn 3p for each unit you export to the grid. (Different rates apply to new-build homes and larger installations.) You also save the money that you would otherwise be spending on electricity provided by another supplier AND you improve the value of your home.

 

 

3) Can you give an example?

 

 A. According to Energy & Climate Change Secretary Ed Milliband, the power you generate from solar panels could earn upto £900p.a. At the same time, you’ll be saving £140p.a. on your household energy bill. That’s over £1,000 per year. Over 25 years, that’s a total of over £25,000 on an initial investment of about £12,500 – more than double your money! For more information, please see www.decc.gov.uk.

 

 

4) What about tax and inflation?

 

 A. The payments you receive are guaranteed, tax-free and index linked.

 

 

5) Who pays the money?

 

 A. Your usual electricity supplier will be obliged by law to pay you for all the electricity you generate (we’ve called them ‘supplier’ even though you will be exporting your unused electricity to them).

 

 

6) How much do solar panels cost?

 

 A. Depending on the roof area available and number of solar panels we can install, our prices start at only £5,999 and a typical 2.5kw PV system can cost anything between £11,999 and £12,500.

Get FIT Today ! Phone us on 020 8654 9000

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Get FIT Today

1) What is the FIT scheme?

 2) What FIT rate will I earn for my home?

 3) Can you give an example?

 4) What about tax and inflation?

 5) Who pays the money?

 6) How much do solar panels cost?

 7) How can I tell if my home is suitable for solar panels?

 8) How long does a solar system last?

 9) When does the system have to be installed?

10) What is going to happen to energy prices in future?

11) What about other renewable energy sources?

12) Why is the government doing this?

7) How can I tell if my home is suitable for solar panels?

 

You need about 8m2 of unshaded roof, wall or secure garden area to mount the panels. Contact us on 020 8654 9000 for a FREE no- obligation site survey, and we’ll let you know what solar panels you need, the cost and likely return on investment. There are no lengthy grant applications and planning permission is not required in England and Scotland (unless it’s a listed building or in a conservation area).

 

 

8) How long does a solar system last?

 

Ours are guaranteed for 25 years, with no maintenance.

 

 

9) When does the system have to be installed?

 

The FIT scheme launches on 1 April 2010. It applies to all UK solar panels commissioned since 15 July 2009 and completed before 31 March 2012.

 

 

10) What is going to happen to energy prices in future?

 

It’s impossible to predict with certainty, but electricity prices are currently rising by 5% p.a. Ofgem has warned that future supplies are in jeopardy, and that we should expect 20% hikes in electricity prices by 2020, with household bills topping £2000p.a. You can escape this looming energy crisis and live ‘off-grid’ when you generate your own power with solar panels.

 

 

11) What about other renewable energy sources?

 

The Government have also announced tariffs of up to 34.5p for <5 megawatt wind turbines, and up to 19.9p for hydro power. From April 2011, tariffs will also become payable for biomass plants, ground source and air source heat pumps, and solar water heaters. Contact us for advice on these too.

 

 

12) Why is the government doing this?

 

Because they have a goal to provide 20% of UK energy through renewable measures by 2020.