Solar Panel - Feed In Tariff

Missy49

Hi All,   Newbie to the forum here,   I have FIT solar panels fitted to my house,  I was just wondering if the rates will increase for the units sold back to the grid or whether they will remain low compared to what the public are being charged come April 2022 ?  

[Deleted User]

The FiT is Retail Price Index (RPI) linked; the value of your electricity increases in line with inflation. An annual review is carried out with a new, inflation adjusted rate set which comes into effect at the beginning of each financial year.

Your new rates are usually announced in mid April.

QrizB

Welcome to the forum!

Dolor is right; the FIT (both generation and export payment parts) will be revalued in accordance with the RPI.

RPI is currently running at 7.1% so there should be a useful FIT increase.

If you would prefer for your export payments to track the wholesale electricity price, and you have Octopus as your electricity supplier, you can opt out of the FIT export payments* and instead sign up for Outgoing Agile. As I type these words Outgoing Agile is paying over £1/kWh (also, the sun is setting so it's of no practical benefit to most solar PV generators).

* You will keep your generation payments, but export will move from deemed to metered. This might or might not work in your favour.

jimjames

QrizB said:

* You will keep your generation payments, but export will move from deemed to metered. This might or might not work in your favour.

Thanks for that info, I wasn't aware of the option. Guess it depends if Octopus will supply on standard variable if switching!

Missy49 said:

Hi All,   Newbie to the forum here,   I have FIT solar panels fitted to my house,  I was just wondering if the rates will increase for the units sold back to the grid or whether they will remain low compared to what the public are being charged come April 2022 ?  

I'm guessing you're on a more recent FIT tariff from this comment. Mine (2011) currently pays 56p per kWh for generation which I think it more than any member of the public is being charged at the moment. If it rises by 7% or so that will be even better!

Merlin139

I am sure the increase is based on the December RPI. Due to be published on Wed 19th Jan. Forecast as 7.2%

Merlin139

RPI announced yesterday. 7.5%

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/czbh/mm23 

jimjames

Calculated on link below: The current generation rate for pre 2012 installations of 56.03p will increase to 60.23p and the export rate of 3.95p will increase to 4.25p.

https://uk-solarpanels.blogspot.com/2022/01/fit-rate-april-2022-solar-feed-in.html