In December we will see a change in the Renewable Solar FIT rate – But it’s not just FIT Rates changes that affect your renewable energy returns.
December will see changes in the governments FIT payments, historically this has caused huge upsurges in the purchases of renewable energy technologies from both domestic and business users.
The UK Government’s Department for Energy and Climate Change (DECC) makes the key decisions on FITs in terms of government policy. The energy regulator Ofgem administers the scheme, changes on a quarterly basis.
The most recent change confirmed by Ofgem will be a minimum of 3.5%, with effect from December 14. With these FIT rate changes it will mean for the average domestic installation of 4 kWp this will mean a reduction of Â£20 per annum and for business uses with an average 50 kWp £240 per annum.
Make sure that your EPC rating is good enough to receive the highest FIT rates.
Whilst changes in FIT rates are important and will continue to affect those not already registered due to the digressive nature of the scheme. it is crucially important to make sure that your EPC rating is good enough to receive the highest FIT rates.
The confirmed 3.5% cut in FIT rates from December 31 is nothing compared to the huge difference in the rates paid to those with an EPC rating of less than D: If you’re in this category you will receive >50% less than those with it.
So before rushing to meet the December 31st deadline to get the current rates first, make sure that your EPC rating is at least D. Below you will find some cost effective tips for improving your rating prior to the rating visit:
* Insulate your water tank
* Change coal for wood (Wood in your fireplace will give you a higher rating than coal
* Remove portable heaters
* Block up unused flues
* Install low energy bulbs
* Add extras inches to your loft Insulation
* Insulate your cavity walls
* Install a Class A heating boiler.
If you are eligible to receive FIT payments you will benefit in more than one way:
* Your energy bill :you will be making savings because generating electricity for your own use means savings on your electricity bill.
* Generation Tariff: your energy supplier will pay you for every unit of electricity you produce. Tariff levels are guaranteed for the period of the tariff up to a maximum of 20 years and are index-linked
* Export tariff: you will get an additional payment for each unit you send back to the national grid, that you haven’t used yourself. This rate is the same for all technologies.
Finally, don’t forget that changing to renewable energies will not only save money but will also help to save the planet. Renewable energies are currently a win win scenario. If you would like to find out more about the FIT rate changes in December or if you are interested in having a FREE consultation, give us a call today.