After months of uncertainty the Department of Energy and Climate Change (DECC) have published changes to the UK feed in tariff set to go ahead on the 1st of August. According to the release the new rate for a basic 4kW system will be 16p per kWh, 50% lower than when the FiT was launched in April 2010. The new tariff, which will now be paid over 20 years instead of 25 years, aims to give a return on investment of over 6% for typical instillations.
Although this reduction to the FiT may effect most small instillations, the DECC have indicated that larger instillations of 25 unit systems are set to benefit from increased application and export tariffs. According to the DECC these reduced changes are set to kick start the industry. The aim is to increase the UKs solar contribution to the national grid from 800MWp to 1,000MWp per year, aiming to achieve 22GW by 2020.
With these targets in place the government and the DECC aims to promote large scale solar pv installations to achieve a higher increase of eco-friendly energy. If your business is looking to reduce its carbon footprint and aid in the UKs future in renewable energy contact NGPS today for a free no obligation quote. Operating across Dorset, Hampshire Wiltshire and Somerset, NGPS are experts in solar pv technologies and can design and install solar systems for any application. Talk to us to find out how you can save on your energy costs, you will be very surprised at the savings.