Feed-In Tariffs

Install electricity generating renewables and reap the rewards in 2010

Feed-in tariffs or FITs are a financial incentive for individuals and companies to install electricity and heat-generating renewable technologies on to buildings within the UK. Example technologies are photovoltaic panels, wind turbines and biomass plants.

Currently the best levels of FITs for electricity generation are around 18p/kWh, however in order to boost uptake of the technology the government have now announced "European" levels of funding and as of April 2010 the following funding will be achievable:-

Photovoltaics on existing buildings (less than 4kWp) - 36.5p*
Photovoltaics on existing buildings (more than 4kWp) - 28p*
Photovoltaics on new buildings (less than 4kWp) - 31p*
Wind (less than 1.5kW) - 30.5p*
Wind (between 1.5kW and 15kW) - 23p*
Biomass-combined heat and power (All sizes) - 9p*

*Price paid per Kilowatt hour generated

How it works
As part of each installation a small power generation meter is installed and as power is generated it is recorded just like your current electricty meter. When the installation is completed you send a meter reading to the appropriate utility company. Once a year you send your new reading and they will send you a cheque for the renewable power generated.