Following on from yesterday’s announcement of proposed 87% cuts to Feed in Tariff (FIT) rates, we expect that anybody who has considered solar will be motivated to accelerate their plans.
With domestic scale Solar PV Tariff Rates for installation cut from 12.47p/kWh (from October) to just 1.6p/kWh from January 2016 there’s a significantly reduced return on investment element to the installation. Of course, all of the other benefits of a solar PV installation will still remain, so we do anticipate the industry to recover and installations to continue over the course of 2016.
As per our previous News post, we do not anticipate any significant reductions in installation cost going forward, and this announcement does not change this.
Based on experience from past significant changes in FIT rates, we are anticipating a very busy spell of installations towards the end of 2015. We would recommend getting in touch now if you’re keen to have an installation completed in time to benefit from the current FIT rates, and we’ll get you up and running in time to get all of the benefits.