Fit Rates 2017

jimjames

It's that time of year again when RPI for December is announced. This is 2.5% so FIT rates will rise by this from April 2017
http://uk-solarpanels.blogspot.co.uk/2017/01/fit-rate-april-2017.html

ajbell

Is this official?. And is it 2.5% on the export part as well?.

EricMears

The OFGEM site doesn't appear to have been updated yet but will no doubt contain the new rates for April fairly soon.


See: https://www.ofgem.gov.uk/environmental-programmes/fit/fit-tariff-rates

jimjames

ajbell wrote: »

Is this official?. And is it 2.5% on the export part as well?.

2.5% on both. Not seen it released but it's from the RPI number which was released today and used for FIT calculations so there are some benefits in inflation increasing today

Cardew

Wow! Around 52p for every kWh generated and no need to export a single kWh.

It makes the subsidies paid in the Northern Ireland RHI scandal seem a bargain.;)

Dave_Fowler

Cardew wrote: »

Wow! Around 52p for every kWh generated and no need to export a single kWh.

It makes the subsidies paid in the Northern Ireland RHI scandal seem a bargain.;)

As one of the early purchasers of solar PV - back in 2010 - I'll be on the higher rate.

I'm one of those who helped the PV market to 'take off' and help get costs down to the now relatively low sums.

Even after almost seven years, I'm still over £8,000 below a break-even point, even neglecting any interest I could heave earned on my capital outlay.

I don't see the 52p FIT rate as being particularly high considering the help I, and others made by investing in the clean energy commitment that this country made during the last decade.

Now that the cost of the PV systems is about 1/4 of what I paid, the current FIT for new installations is also around 1/4 of that in the early days.

I understand that 52p rate only applies to a small percentage of all the investors in this country's green energy commitments.

All seems pretty fair to me.

Dave F

EricMears

Dave_Fowler wrote: »

All seems pretty fair to me.

And to me.

The FIT scheme isn't what I would have chosen - I'd have preferred to see an instant refund of (say) two thirds of the installation cost but no ongoing income (apart from the electricity savings of course).

But that wasn't on the table. What was, and what I accepted, was the FIT scheme with which we're all familiar and I thought it was attractive enough to be worth accepting. After 5+ years I'm still (technically) making a loss on the deal but I hope to convert that to a profit within the almost 20 years of my contract that remain.

I'm sorry for those people who wouldn't or couldn't afford to join in the scheme when I did but had they pushed themselves a little (I explained here at the outset that getting a mortgage advance would have been well worthwhile) they'd also been reaping the rewards. For those who've joined the scheme at a later date, you owe your lower prices to folk like me & Dave.

Martyn1981

Dave_Fowler wrote: »

Now that the cost of the PV systems is about 1/4 of what I paid, the current FIT for new installations is also around 1/4 of that in the early days.

I understand that 52p rate only applies to a small percentage of all the investors in this country's green energy commitments.

All seems pretty fair to me.

Dave F

Hiya Dave. Actually the current FiT is less than 1/15th of the original, as of course the FiT is only one part of the domestic income stream, so it was able to drop at a greater ratio than prices.

As with all trolling, figures need to be considered in context, and in this instance we should compare to the chosen energy source of those that still feel aggrieved by the public's ability to take part in renewable energy generation, so let's see:

New domestic PV - £66/MWh paid in support for 20yrs, to UK households, keeping the monies within the UK, reducing CO2 today. This is the result of less than 7yrs of support.

New supply side nuclear - £102/MWh paid in support for 35yrs, to French and Chinese governments, losing the monies to a balance of payments deficit, reducing CO2 in 2028(ish). This is the result of more than 60yrs of support.

It's unlikely that we'll see a more successful subsidy scheme than the UK FiT, and the similar schemes operated all over the world that rapidly made PV viable.

Martyn1981

Dave_Fowler wrote: »

Now that the cost of the PV systems is about 1/4 of what I paid, the current FIT for new installations is also around 1/4 of that in the early days.

BTW, and just for fun. To show how much faster progress was made than expected, the FiT from 1/4/17 was originally planned to be 25p/kWh for 25yrs, whereas it will actually be 4.08p/kWh for 20yrs.

Ectophile

Martyn1981 wrote: »

BTW, and just for fun. To show how much faster progress was made than expected, the FiT from 1/4/17 was originally planned to be 25p/kWh for 25yrs, whereas it will actually be 4.08p/kWh for 20yrs.

I see it not so much as a sign of progress as of lousy planning by the government.

They kept the FIT payments too high for too long. The money allocated started running out far too fast, and the government panicked and massively cut the FIT. Many solar installation companies went bust as the customers disappeared.

Cardew

Dave_Fowler wrote: »

I'm one of those who helped the PV market to 'take off' and help get costs down to the now relatively low sums.

Do you live in China then? Or is it just those in the UK who brought prices down?

The bottom line is that UK electricity customers will be paying you and others ever increasingly obscene amounts for the next 17 years.

As I have said many times, there is no criticism on my part of those who jumped on the bandwaggon, the blame lies firmly with the Government who introduced the absurd FIT scheme. However please spare us the 'pioneers' angle; there was plenty of oportunity to have PV panels before the introduction of FIT.

Read George Monboit;)


P.S.
Anything that states the truth is considered as trolling by the Guru.