What is the Feed in Tarrif?
What is the Feed in Tariff? (FiT)
The Feed in Tariff is a government backed scheme that’s allows the large energy companies to pay consumers for the generation of clean energy. There are different methods of clean energy such as Solar PV, Wind, and Hydro to name a few.
Who pays me?
Feed in Tariff are contracts are between you and an energy company such as Scottish and Southern Electric, you can have a FiT contract with any of the big companies offering them, this can be separate to the electric account you already have, so lets say you buy electric from EON, you can have a solar system fitted and have a FiT contract with N-Power.
How do i get paid?
The best way to describe how it works is; you need to have a solar PV system installed by an MCS registered contractor such as Solargro, once the system is installed fill in the FiT application form and send it off. Essentaly you have two accounts, a debit account like the one you already have with the electric company and you have a separate credit account (FiT) account, and its this account were the money will be paid to. It’s up to you what you do with that money, but i have mine offset against my electric bill.
How long will the Feed in Tariff last?
The scheme is currently 20 years, and this is backed by the government once you’re locked on to the scheme.
How can the UK afford to pay the Feed in Tariff in this difficult climate?
All FiT's are paid by the big national electric companies, and they levy small percentage onto everyone’s electric bill to pay for it, so in reality were all paying for it, except those who dont have a solar system are paying for those that do!, so dont delay and gets yours on today, the sooner you do it the better of you will be. If you can see a neighbour’s solar system you’re paying towards it!