Subsidies - 25 years of guaranteed Income
Whatever might be your reason for investing in Photovoltaic (PV) Technology, which converts solar energy into electricity, you can be rest assured that the government will reward you for it. Take advantage of the opportunities and sell the electricity that your panels will generate for 25 years with government-guaranteed fixed Feed in Tariff (FIT). Depending on the size and design of the photovoltaic system, you will receive up to 44.3 pence per kilowatt hour. We at Calrays UK Ltd would be more than happy to help and support you with any questions you might have regarding the support scheme from the government.
The Generation Tariff will be paid out purely for producing the electricity even though you use it yourself. If your Installation is smaller then 4kwp (retrofit) you are entitled for a Generation Tariff of 41.3p per Kilowatt hour produced. In addition you save about 10p per Kilowatt hour you don't need to buy from your for your electricity provider. Too good to be true? Well still true though. If you produce electricity in excess of your own usage you may add and extra 3pence per kwh produced.
Here a calculation that might help you understand how it works. The calculation is based on 1100 sun hours p.a. which is typical for London and a small size domestic Installation of 3Kwp and with an assumption that you would use 50% of the electricity yourself and sell the other 50% back to the grid.
REMUNERATION RATES OF NETWORK SUPPLY
REMUNERATION RATES OF OWN CONSUMPTION
The rate of remuneration of own consumption is calculated based on the remuneration of network supply for each system (see chart above).
Of this value a fixed amount is deducted:
Deduction up to 30% own consumption: 16.38 ct./kWh
Deduction from 30% own consumption: 12 ct./kWh
The individual benefit depends on the actual electricity price. It is calculated with the statistical average value. Average electricity price (net): 20 ct./kWh).