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Feed In Tariff (FITs)
The feed in tariff (FITS), was introduced in April 2010, and is a government backed scheme made available to inspire property owners to install PV solar panels on their property. The Government do not fund the feed in tariff with tax payer's money, the money to pay for it comes from the energy companies who pass on this cost to their customers in increased energy prices.
From January 25th 2012 it is likely that 43.3p will be available to those who have a Solar PV System installed before 3rd March but it is still possible that the government will appeal again and if they win then the new FITS of 21p* will be reinstated. The point is that the Government's appeal was declined by three high court Judges (so it is highly unlikely that another Judge will rule differently).
This has brought around the perfect Time to Buy a PV Solar System as prices for domestic systems have come down by over 25% since the announcement. The Government are guaranteeing that 21p is the Minimum Feed In Tariff You Will get. This is a good deal already but potentially, you could receive the full 43.3p. With the drop of Install costs Solar is a great place to invest your money with typical installs giving a 4 to 5 year payback and over 20 years of tax free profit.
Advantages of the PV Solar
Receive money for Every Kilowatt hour that You Produce.
Money for Each Exported Kilowatt hour to the National Grid.
Government assured and Guaranteed for 25 Years
Tracks Inflation
FITS Income is Tax Free
This all means that the feed in tariff is a great opportunity to property owners who are able to take advantage of it. A return on Investment that not many financial products can match.
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