Ofgem confirms solar PV rates to drop in April
By Katie Anderson on February 5th, 2014
If you’re thinking of investing in solar panels for your roof you’ve got until the end of March to take advantage of the current feed-in tariff rates, because energy regulator Ofgem has confirmed that rates for solar PV systems up to 4kW will be reduced from 14.9p/kWh to 14.38p/kWh.
Current feed-in tariff (FIT) rates were frozen last October until the end of March because of a low level of uptake. Energy regulator Ofgem is responsible for reducing the level of support on offer to green electricity adopters through the feed-in tariff, and can cut tariff payments by 3.5% every quarter if installation targets are achieved due to a high level of demand for the technology.
This latest round of feed-in tariff cuts applies to solar photovoltaic panels between 0-50kW. Systems above the 50kW threshold will remain at their current levels.
The Export Tariff rate will increase slightly, from the current 4.64p to 4.77p. Generation Tariff rates from 1 April to 30 June 2014 are as follows:
0-4kW = 14.38p
>4-10kW = 13.03p
>10-50kW = 12.13p
>100-150kW = 10.71p
>150-250kW = 10.25p
>250kW-5MW = 6.61p
You can see the full FIT rate table here or visit Ofgem’s website.
Renewables Guide can arrange for up to three MCS accredited solar installers to provide you with free quotes to install solar panels. The quotes are free and you won’t be under any obligation to accept the quotes.