The Government Is Quietly Changing Your FIT Solar Payments

matt_drummer

The deemed export payment is `only' about 7.3 p per kWh Scot. Nobody gets paid over 70p per kWh for exported electricity.

The generation payments are over 70p per kWh at the highest level but they are designed to compensate the owner for the risk they took in installing the systems.

Not many people receive that highest level though.

My inherited system installed in March 2014 currently receives about 25p per kWh of generation.

My export is not on the deemed export rate and is metered at SEG rates, currently 15p per kWh from Octopus.

I have the invoice for my 4kW system and it cost the previous owner of my house £16,000

We generate about 4mWh per annum and receive on average over the last twelve years about £800 pa.

If, over the 20 year FIT scheme, we average £900pa then total receipts will be about £18,000

Not a huge profit and if you take account of lost interest it was actually a bad investment, the money may well have been better off in a bank.

Only the very early adopters are making vast profits on their installations from the FIT scheme.

I suspect most are not Scot

squirrelpie

And I'm only paid 7.39p/kWh for export. I would prefer that we have a government we could trust to stick to their word.

debitcardmayhem

https://forums.moneysavingexpert.com/discussion/comment/81863759#Comment_81863759

You could move your export to metered , Octopus pays 15p as @matt_drummer says.

squirrelpie

https://forums.moneysavingexpert.com/discussion/comment/81863782#Comment_81863782

I prefer a company I feel able to trust, as well as the government.

QrizB

You could move your export to metered , Octopus pays 15p as matt_drummer says.

Indeed, the Govt messing with FIT indexing was the push I needed to opt out of FIT export payments at 5.25p/kWh (the pre-01/12/2012 rate, before it was increased) and switch to Octopus's metered export at 15p/kWh.

Scot_39

https://forums.moneysavingexpert.com/discussion/comment/81863757#Comment_81863757

Yes iirc the 300% example was pre the 2012 rates reduction.

But thats no reason to keep it running for them on the same basis - and to keep escalating the payments by RPI or CPI soon - for those who have more than recovered their investment.

Why not cap them at say your 25p - rather than allowing the 75p - once the outlay has been recovered.

After all non CfD renewables were subject to a windfall tax at the height of the crisis for their profits - why not say late adoptors at the old rate ?

The simple fact is that this govt prioritizes "green" over our energy bills - the answer in the response makes that clear "maintaining investment appetite" - and surveys have shown that is not what the public want - the one late last year 68% wanted the focus on lowest price - only 21% iirc on net zero renewables/nuclear or CCS to escalate gas generation costs.

Most duel fuel users are protected for the majority of their use - but as more are encouraged - I guess at some point - pushed towards all electric - I suspect the cost of electricity will only escalate in the publics - so politicians - priorities.

squirrelpie

Why not cap them at say your 25p - rather than allowing the 75p - once the outlay has been recovered.

After all non CfD renewables were subject to a windfall tax at the height of the crisis for their profits

The answer to the first part is trust - that we can trust our government to keep to contracts, even if they have the theoretical power to change everything arbitrarily.

The answer to the second part is that the windfall tax was on companies, whilst FIT is paid to individuals. Crudely, people vote and companies don't.