With current rates of return for solar PV systems at between 12% and 20% per annum, the industry is expecting a ‘rush for solar’ to take place before the Feed-in Tariff (FiT) automatically drops by at least 3.5% on 1 January 2014 for systems above 50kW.
To give you an idea of the impact, using some systems we have recently priced for customers as examples, a cut of 3.5% in the FIT rate would mean a reduction in the customer’s profit of more than £3,000 from a 28 kW system, more than £5,500 from a 50 kW system and more than £23,500 from a 250 kW system.
Added bonus for installing before 1 January 2014
In April each year the FIT rates for existing PV systems are adjusted in line with inflation and have risen an average of 3.9% annually so far. If your PV system is installed by 31 December not only will you receive the current higher FIT rate, but also it will be adjusted in line with inflation just a few months later in this coming April. However, if your system is installed after 31 December, under FIT rules the rate you receive would not qualify for inflation linking until April 2015 – a full 15 months later.
Book now to maximise your income
Whether you are looking for a commercial or domestic system we would advise you to book as soon as you can if you want to be sure of getting your system installed before 1 January 2014, as from previous experience SunGift has had more demand than we can cope with in the last few weeks of December. In addition designing, installing and commissioning a system can take a number of weeks from start to finish, there are fewer daylight hours at this time of year, and there’s a greater risk of delays due to adverse weather.
If it’s some time since we gave you a quote, please contact us again as the price of a solar PV system from us may have lowered considerably. For more information visit our solar PV systems page or email one of our designers at email@example.com.