The Feed-In Tariff (FIT) scheme works by giving you quarterly payments calculated on how much electricity your renewable energy system has generated. You’ll receive one payment for each unit produced and an extra payment for any units you don’t use which are sold to the National Grid.
Eligible systems include solar PV panels, wind turbines, micro combined heat and power (MCP), hydro and anaerobic digestion. (Radiant Heating only supply and install solar PV panels.) As with the RHI, there are separate schemes and rates for small, usually domestic, installations and large, usually commercial, installations. Most FIT payments will continue for 20 years, although this can vary.
Your quarterly payments will be made by your electricity supplier. The amount paid will be based on the meter readings you supply to them. Whilst all qualifying installations will receive FIT payments at some point, Ofgem has capped the number of new applications it will process each month. Once the cap has been reached, applicants enter a queue.
The order in which queued applications are processed depends on the size of your system. For small installations, the date and time that the MCS installer issued your certificate will be used. For larger ones, Ofgem will use the date and time they received your application.
Since the FIT scheme was introduced in 2010, Ofgem have made quite a few changes – including reducing payment levels considerably, tightening the eligibility criteria and introducing the monthly cap. More changes are likely in the future, so please contact Radiant Heating Solutions for the latest information.