DECC to Cut Solar Incentives in New Year
The Department for Energy and Climate Change has announced proposals to cut feed-in tariff rates for solar installations by a staggering 87% in 2016. Currently, households could save up to £125 per year on their bills thanks to the incentive schemes set up by the government, but this announcement suggests the DECC will cut most of the schemes across the board, meaning home owners should act now to benefit from the schemes which will still run until the end of the year.
The announcement came as part of the much anticipated Consultation Review of the Feed-in Tariff schemes issued today.
John Evans, from The Eco Experts comments: ‘People who complete and register their installation before January 1st 2016 will still be eligible for the old tariff, meaning they will be paid for the electricity they generate even if they use it themselves, and for any surplus electricity exported to the grid. In addition, they also save money on their electricity bill because they are using their own electricity. The next few months are definitely the best time to invest in solar to take advantage of the huge savings before the tariff is stopped.’
The cuts should come into effect from January 1, 2016.
If you want to know how much solar power your home could generate why not use our Solar Panel PV calculator which tells you how much money you can earn from giving back to the grid.
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