Feed In Tariff Cashback Scheme
After much consultation the much anticipated 'Feed in tariff' scheme has now arrived, which is great news for consumers who are looking to install solar PV. The scheme has many benefits which include a inflation proof tax free income which is guaranteed for 25 years, from the electricity your PV system generates, it now makes more than financial sense to install PV as the 'Feed in tariff' has added another dimension for consumers.
The 'Feed in tariff' will apply as of the 1st April 2010 for Photovoltaic installations; all installs have to be MCS approved to qualify for the scheme which Envirosolar will assist with.
Tariff Rates
21p for every unit of electricity generated by your PV system
0.031p extra income paid for every unit of electricity exported back to the grid = 24.1p
Example 2.7kWp system on a south facing 30 45 degree pitched roof will generate as per the Government Standard Assessment Procedure Calculations approx. 2317Kw of power (this may be more in certain areas)
Therefore 21p x 2317 will earn you in the first year a Tax free generation tariff payment of £486.57
If 50% of the electricity generated is exported back into the grid you will earn an extra £35.91p
This gives you a total earning in year 1 of £522.48. All income generated is 100% free of UK income tax and is linked to RPI ( Retail Price Index) which ensures the income generated throughout the 25 year life of tariff is kept in line with inflation. Full details of the 25 year scheme and the return of investment personalised to your own requirements will be given to you during our consultation
With the price of electricity destined to rise over the coming years (DECC July 2010) predict that consumers who do nothing could see a rise in their electricity prices by as much as 33% and those who invest in renewable energy and insulation measures could in fact see a reduction of 25% in real terms) this has to be a golden opportunity for any consumer wishing to protect themselves and their family against these constant price rises
NOW YOU CAN GENERATE A TAX FREE INCOME, SAVE ELECTRICTY AND HELP YOUR ENVIROMENT
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