RMI Utilities – Massive Reduction in Solar Panel Rebates
The Department for Energy & Climate Change (DECC) has proposed huge cuts in the feed in tariff rates (FiTs) for solar PV installations of as much as 87% - by 1st January 2016. So anyone wishing to secure the higher tariffs needs to move quickly.
FiTs provide long-term financial incentives to businesses that generate their own electricity from renewable sources. Once accredited under the scheme, installers are eligible for guaranteed “generation” payments for the power that they generate and “export” payments for additional power that they send to the grid, for the entire life of the generation equipment.
The cuts proposed will reduce the FiTs for projects between 10kW and 50kW from 11.3p per kWh to 3.60p per kWh. For larger installations of up to 250kW this will reduce to 2.64p per kWh!
Businesses wishing to beat the proposed reductions and lock into the higher rates must have their Solar PV system fully installed and commissioned by the end of 2015.
There is still time to ensure you beat the cut, but you must act now to avoid missing out.
RMI Utilities have teamed up with experts in Solar PV installations to provide RMI members with advice on the viability of installations at their site(s).
To find out more and to see if you can benefit from the higher FiT rates whilst there is still time, please contact the member helpline on 0845 305 4230.