FIT increase 2023

When do we find out the inflation figures needed for the 2023 FIT increase? what is it likely to be, will we get 10% ?
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  • jimjames
    jimjames Posts: 17,586 Forumite
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    edited 17 January 2023 at 6:49PM
    It will be tomorrow, expecting it to be well above 10% as RPI last month was 14%. 

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

    For what it's worth my prediction is RPI of 12.5% giving a new FIT rate of 67.4p
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Exiled_Tyke
    Exiled_Tyke Posts: 1,188 Forumite
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    jimjames said:
    It will be tomorrow, expecting it to be well above 10% as RPI last month was 14%. 

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

    For what it's worth my prediction is RPI of 12.5% giving a new FIT rate of 67.4p
    Don't forget that those of on FIT all get different rates depending on the time of install. 
    Install 28th Nov 15, 3.3kW, (11x300LG), SolarEdge, SW. W Yorks.
    Install 2: Sept 19, 600W SSE
    Solax 6.3kWh battery
  • Merlin139
    Merlin139 Posts: 6,850 Forumite
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    The annual RPI inflation rate was 13.4% in December 2022.

    https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/czbh/mm23
    3.795 kWp Solar PV System. Capital of the Wolds

  • I make that 68.3p generation, 4.82 feed-in - for a total of 70.7p after 50% deemed usage - based on 2011 FIT rate. 
    Central Beds, 2.02kWp (9 x 225W) south facing with some morning shade, installed 2011 (£7.16/Wp). Tigo monitoring/optimisers on all panels, Growatt MIC 2000 TL-X Inverter and Solar iBoost installed 2022. (4 x 415W + 6 x 405W garden experiment connected to SunSynk 3.6 hybrid inverter & 2 x 5.3kWh SynSynk batteries) (4 x 405W panels queued to go somewhere)
  • Krakkkers
    Krakkkers Posts: 1,124 Forumite
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    So is that the figure then? 13.4%
  • gefnew
    gefnew Posts: 875 Forumite
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    I make that 68.3p generation, 4.82 feed-in - for a total of 70.7p after 50% deemed usage - based on 2011 FIT rate. 
    Plus 48.45p/kwh of self consumption after March when the support from government goes.
  • gefnew said:
    I make that 68.3p generation, 4.82 feed-in - for a total of 70.7p after 50% deemed usage - based on 2011 FIT rate. 
    Plus 48.45p/kwh of self consumption after March when the support from government goes.
    21p for me until Aug 2024 - not sure if I should feel hard done by because I'm not getting the full 'benefit' of self consumption ;)
    Central Beds, 2.02kWp (9 x 225W) south facing with some morning shade, installed 2011 (£7.16/Wp). Tigo monitoring/optimisers on all panels, Growatt MIC 2000 TL-X Inverter and Solar iBoost installed 2022. (4 x 415W + 6 x 405W garden experiment connected to SunSynk 3.6 hybrid inverter & 2 x 5.3kWh SynSynk batteries) (4 x 405W panels queued to go somewhere)
  • Krakkkers
    Krakkkers Posts: 1,124 Forumite
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    Do you mean 2034?
  • zdenka
    zdenka Posts: 9 Forumite
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    Ok, complete newbie here. I had my solar panels/batteries installed last year. Installer told me it’s not worth having feed in tariff but just to go with Octopus GO for cheap night rates. Martin’s guide suggest though that I could get separate feed in tariff that’s independent from Octopus? How do I go about this? I have friends who are on Octopus Go but have feed in tariff with previous supplier, but they had solar for 10+ years.
  • DougMLancs
    DougMLancs Posts: 205 Forumite
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    edited 11 April 2023 at 10:04PM
    The FIT scheme closed to new applications on 1st April 2019 but it’s now been replaced by SEG (smart export guarantee). What tariff are you on at the moment and who with? Octopus? You can have your import and export with different suppliers but if you are already with Octopus for import then I would stick with them for export as they have some great tariffs. Do you know if your installer was MCS registered? From what I’ve seen on here, installers who tell customers they shouldn’t bother with export payments are perhaps not registered. A few details about the size of your solar array/battery would help. Do you own an EV?
    4.44kW SW Facing in-roof array with 3.6kW Givenergy Gen 2 Hybrid inverter and 9.5kWh Givenergy battery. 9kW Panasonic Aquarea L (R290) ASHP. #gasfree since July ‘23
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