The Feed-in Tariffs (FiTs) supports certain renewable energy technologies up to 5MW electricity generation capacity. The scheme provides a revenue benefit for power generation and gives a guaranteed minimum value for any power exported to the National Grid.
The FiT is split into a “generation tariff” and an “export tariff” both are paid to the owner of the generating plant by the electricity provider. Of course if used on site there is no need to purchase from the grid.
The current generation tariff‘s are shown in the table below
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The export tariff has been set at a minimum of 4.5p/kWh, however, DC21 are currently able offer our customers 5-6p/kWh through a negotiated power purchase agreement.
Example an Endurance E-3120 generating 200,000kWh/year commissioned on May 1st 2014 would provide a generation income of £35,560 and an export income of £11,000 (based on 5.5p/kWh).
Once a scheme has qualified the FiT is guaranteed for 20 years, and is indexed linked. To encourage more cost effective technology to be developed, for new installations the FiT will degress over time.