The Feed-in-Tariff (FIT) Scheme is a Government Initiative, designed to reward individuals and businesses who install renewable energy systems including Solar PV and wind turbines. Under the scheme, eligible installations qualify for payment which is broken down into two parts:
- Generation Tariff: Your energy generation system e.g. your solar panels, will be fitted with a meter that monitors how much energy is generated. You will then be paid a set rate per unit or kWh you generate, by your energy supplier. The tariff level is dependent on when your system is registered, but the tariff you are given when you register your system will be guaranteed for up to 20 years.
- Export Tariff: Your energy supplier will pay you for the energy you don't use, which is then exported to the grid. Large installations will include an export meter, but for small installations (domestic), these aren't included. It is likely that at some point, smart meters will be installed to monitor how much you are exporting to the grid, but for now, estimates are in place to measure these values. It is assumed that 50% of the energy you produce is being exported to the grid.
As part of your installation, we automatically complete all the paperwork required for the FIT and submit this on your behalf. Get in touch for more information.