The current generation Tariff rate for systems installed and commissioned after 1st August 2012 is 16p per kWh for new Solar installations under 4kWp. This gives a Return on Investment of 7% to 10% per year.
As the cost of technology is constantly falling, the Department of Energy and Climate Change (DECC) have introduced a series of cuts to the Feed-in Tariff.
From 1st November 2012, the Generation Tariff rate for systems under 4kWp will be reduced by 3.5% to 15.44p per kWh.
Further cuts are scheduled to take place every three months, depending on the number of installations taking place. If uptake is low, cuts may not be implemented.
Should I invest in Solar now?
Yes, absolutely. For customers considering Solar Panels, now represents the best time to invest.The current Feed-in Tariff rate of 16p per kWh is guaranteed and linked to inflation for 20 years, and will give a Return on Investment of between 7% and 10%.
