Time running out to install panels with FiT

Homeowners have just over two months to get the current 21p return from installing solar panels until Government cuts the Feed-in Tariff. As of July 1 the new rate will […]

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By Tom Gibson

Homeowners have just over two months to get the current 21p return from installing solar panels until Government cuts the Feed-in Tariff. As of July 1 the new rate will be no higher than 16.5p and may be even lower.

Industry insiders expect the return on investment to drop to as low as 4% if deployment in March and April is between 150 and 200MW.

David Hunt, a director with leading renewable energy company Eco Environments said: “This is the final chance for consumers to secure a fantastic return on investment if they go ahead with a solar PV installation before July 1.

“After this date, the FIT rate will drop dramatically, which will make a domestic solar PV scheme appealing only to the really green investors rather than those who are coming at it mainly for the eye-watering financial returns.”

Following the FiT fiasco last year the rate for domestic schemes under 4kW was slashed from 43.3p to 21p.