The Feed in Tariff
The “Feed in Tariff” (FiT) was introduced to the UK in April 2011. It was an incentive designed to get the public to install solar photovoltaic systems to generate electricity. The way the Feed in Tariff works as complicated as it can be is actually quite simple. The solar panels generate electricity and you get paid for every unit of electricity that is generated! That’s it! Simple.
Now the complicated bit!
For every unit that you use while the system is generating is free for you to use. BUT you still get paid for generating it with the FiT
The Feed in Tariff was introduced with a high tariff, a good opportunity with an incentive for people to install solar panels to help with the high prices of installations. Over the years it has reduced significantly and has attracted a lot of attention in the media with subsidies for solar and wind being slashed while Nuclear and Fossil fuels attract billions of investment.
It has been shadowed by bad press over the years with many people under the impression it has finished. The Feed in Tariff still exists for both domestic and commercial installations and will exist for more years to come and with battery storage options also available, solar panels are soon to be the solution for rising energy bills and independent energy.