Using the Feed in Tariff 2011 Rates to Payback Solar Installations
After having invested money in a solar energy system for your home, the first thing you will want to do is research the Feed in Tariff 2011 rates. You can be guaranteed to be compensated with today’s rate for 25 years if your system meets the Microgeneration Certification Scheme requirements and if your solar installers are also MCS certified. But what does this mean in terms of saving money on electricity and the amount of time it will take you to payback the cost of the installation?
Feed in Tariff Rates for New Build and Existing Homes
The Feed in Tariffs April 2011 rates stand at 41.3p per kWh for a system that is equal to or less than 4 kW on an existing home. For new build homes with a solar PV system the same size the rate is 36.1p per kWh of electricity generated. Both of these rates are guaranteed for 25 years and it is estimated that the average size system in the average household (based on energy consumption) can be paid back in a period of 8 to 10 years.
Paying Back Your Solar PV System within 8 to 10 Years
If you simply look at the fact that a solar PV energy system can be paid back within 8 to 10 years you may not be as impressed as when you understand that the system is literally paying for itself within that timeframe since the Feed in Tariff UK 2011 rates are as high as they are. You will most often only generate approximately half of the electricity that you utilise, but you only need to buy half of what you use and the other half you get paid to generate! Not only is energy from the sun free, you get paid to convert it into a useable form of electricity.
Limited Time to Take Advantage of Current FIT Rates
There is one thing however that you should be aware of when procrastinating on having a solar energy system installed. These high rates will not be available forever and as it stands the UK Feed in Tariff 2011 rates are set to decrease in 2013. At that point you will only be able to be compensated for the rates which will be announced prior to that date. If you act now to have a solar energy system installed on your home, you will be guaranteed 2011 FIT rates AND you will have already paid back 2 of the 8 or 10 years it will take you to pay off your system.
Understanding the Feed in Tariff 2011 rates is of vital importance if you are looking for help financing a solar power system for your home. Not only will you be paying for only about 50% of the power you use but the other 50% earns you an income! New Energy Futures has more than 50 MCS certified installers on staff who can help you determine your energy needs and give you a good estimate of what you can expect to earn so that you can base your buying decision on those facts. For a free onsite assessment of your energy needs, contact us on 0844 774 1407 to schedule a visit from an expert MCS certified New Energy Futures solar installer.
