FIT Deadline extended until the 1st August

On 24^th May 2012, the Climate Change Minister Greg Barker confirmed the next wave of cuts to solar feed-in tariff incentives will come into effect from 1^st August 2012. This is one month later than originally planned, cutting payments for small scale installations from 21p/kWh to 16p/kWh with a possible decrease on a quarterly basis thereafter depending on installation rates.

What this news means for homeowners?

From 1st August 2012, homeowners can get:

• 4.5p for each unit of electricity exported to the grid
• 16p for each unit generated
• The tariff will be paid for 20 years
• FiTs will continue to increase with inflation (RPI)