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Feed in Tariff launched today
Reducing energy use and small-scale electricity generation across Britain
From today, 1st April 2010, householders can earn money for generating their own electricitty using wind, hydro and solar photovoltaic systems with a Feed in Tariff.
The introduction of carbon cutting Government incentive schemes see's homes and businesses playing a key role in contributing to UK emissions reductions of at least 34% on 1990 levels by 2020 through improved energy efficiency and small-scale low-carbon electricity.
The offering to consumers - FITs
Individuals, organisations or businesses in England, Wales and Scotland who install low carbon electricity generation could benefit from FITs:
- They will be paid money for every unit of electricity they generate.
- They will get an extra 3 pence/kWh for every unit they don't use that is exported to the grid.
- They can also benefit from a reduced electricity bill where they use the electricity that they generate rather than having to buy all they need from the grid.
A typical 2.5kW, well sited solar PV Installation could offer savings of £140 a year plus earnings of £900 a year.
In addition to providing a contribution to meeting the 2020 Renewable Energy Target, the FITs will enable broad participation of individuals and communities in the shift towards a low carbon economy.
The feed-in tariff is a win-win for consumers. They will be paid for any electricity they generate themselves from low carbon sources and benefit from a cheaper electricity bill.
Click here to view our 'Simple summary of the Feed in Tariff (AKA Clean Energy Cashback)' for more information.
Further information is available from DECC.