Solar PV Feed In Tariffs Reach The UK

Online, April 2, 2010 (Newswire.com) - The Future's Bright - The Future's Green

At last, Feed In Tariffs or FITs have arrived in the UK. From 1st April, householders can now benefit from the Government's Clean Energy Cash Back Scheme. Under the Feed In Tariffs scheme, householders can receive payments for generating their own electricity, the most popular method of which is using a solar photovoltaic system or Solar PV.

By harnessing solar energy, Solar PV FITs mean that anyone generating up to 5 megawatts of electricity can receive payments for every single unit of electricity, with additional payments for every unit of surplus electricity that's fed back in to the grid.

These two potential earnings, in addition to the enormous saving each year on electricity bills, mean that the average home will be up to £835 better off each year.

Feed In Tariffs enable householders to generate clean energy in a number of ways, including wind turbines, water turbines and solar energy. However, the most popular and the most convenient option for most people is a Solar PV system, and as long as your home has a roof that faces somewhere between South West and South East, then you can now benefit from Solar PV Feed In Tariffs.

The FITs scheme has already been running in nearly fifty countries worldwide, including Germany's where Feed In Tariffs have been available for ten years now. In this case, Solar PV FITs have proved both enormously successful and enormously popular.

With fuel prices continuing to rise overall, and fossil fuels rapidly nearing total depletion, it has never been more important or financially beneficial to make the switch to green energy sources such as solar energy.

Under the terms of the Solar PV Feed In Tariffs, you will be entitled to receive payment for every unit of electricity generated. This is known as the Generation Tariff and will be guaranteed for at least the next 25 years. For an average three bedroom house running a typical 2kWp Solar PV system, this equates to annual earnings of around £700.

The 25 year commitment by the energy companies also means that all surplus energy generated will be paid for as it is fed back into the grid, and this could generate an additional £25 per year under the Export Tariff. With savings on electricity bills in the region of £110 per year, this all adds up to a very worthwhile investment.

Imagine looking at your next electricity bill and seeing it slashed by a huge proportion; or perhaps it might read zero, or even an amount owed to you by the energy companies for the energy your Solar PV system has generated.

Prices for Solar PV systems vary depending on the amount if power they are required to generate, but the average family would be easily able to recoup the cost within a reasonable period of time, and having the peace of mind of knowing that your annual earnings are guaranteed for at least a quarter of a century means that it is easily the most beneficial solution for any home, financially as well as environmentally.

At our current rate of consumption, all the oil in the world will have gone within forty years. Children born today will live, work and bring up their families in a world which won't even have the option of using oil. The world will be a very different place, from transport to industry, technologies will have to adapt. By taking advantage of Solar PV FITs today, we can all help to make a difference both in terms of our own financial benefit and the enormous cumulative benefit to the environment.