Solar PV Feed-in Tariff
Installing a PV system will earn you money - just by it sitting on the roof!
The new feed-in tariff works by paying you a high rate for the electricity produced by your PV system. The rate quoted is 41.3p per kWh of electricity produced - this figure is for systems under 4kWp in size, which would easily include the majority of domestic systems. So, for example, for a south facing 3kWp system on the roof, you would earn approximately £991 in the first year.
Add to that the savings you would make on your electric bill (because the PV system is producing the power instead), which comes to about £360.
The 41.3p tariff applies even if you are to use all the electricity that is produced by your PV system. If you have excess electricity which is exported to the grid, then you'd receive 3 pence more per kilowatt-hour, at the rate of 44.3p.
The feed-in tariff rates are fixed for 25 years, and will also rise each year in line with inflation.
So, with the new solar feed-in tariff, you could earn approximately £1351 in the first year, and earnings would rise yearly.