SOLAR BLOG
Energy Savings Trust – Feed in Tarrif Rate Cut Slip Up
Solar subsidies are likely to be dramatically cut, according to government documents that were prematurely published online by the Energy Savings Trust website. When the error was realised the document was then quickly removed.
The document claimed that the government plan to cut the Feed in Tarrif rate by approximately half for applications received after 8th December 2011 rather than after the originally planned date of 1st April 2012. The cut will almost double the payback period for householders, meaning someone installing a £10,000 solar panel system will only be in credit after 18 years rather than the current 10. The rate will be reduced from 43.3p per kilowatt hour of solar electricity to just 21p, the document revealed, cutting returns from around 7% to 4%.
PRESS STATEMENT – Released today on the EST Website
In response to speculation on our position on the government’s review of Feed-in Tariffs, an Energy Saving Trust spokesperson said:
The BBC's money expert Martin Lewis advises customers to act quickly to beat the Feed in Tariff cuts
The BBC's money saving expert and author of Moneysavingexpert.com, Martin Lewis, discusses the industry rumours considering the forthcoming Feed in Tariff rules changing, meaning potential gain for newbies could be slashed.
Martin goes on to advise potential new solar customers to act now to take advantage of solar, both free and paid for, before the changes in the Feed in Tariff come into effect. These changes are predicted to come into effect March 2012 for those not already signed up, and could be cut by as much as 50% for those who haven't already signed up.
So if you are still considering installing solar panels, now is the time to do it. If you still have queries or are unsure if solar power is for you, give BSOLAR a call today on 0845 009 8642 for a quote and some no-obligation advice.
