The feed-in Tariff (FiT) was first introduced in 2010. This was to help encourage the surge into renewable energy. Since then, many homeowners and businesses have invested and locked themselves into a 20 year fixed rate, financially benefiting from the subsidies available from Government backed incentives.So, it seems the sun is finally setting on the FiT as it has been suggested this will come to an end in March 2019. There is a predicted rise in solar investment over the next 12 months of those wanting to make a last gasp effort to maximise the benefits available, and who could blame them! Energy prices are going to continue to rise, and certainly for businesses, could be a real financial burden.
Business owners may underestimate the length of time it could take for a solar install through inception to delivery, certainly on the larger systems. That is why if you want to benefit from the FiT before this luxury ends, the time to act is now.
However, don't panic! You still have 12 months to sign up to this. FiT rates will decrease throughout the year, so if you're thinking solar, why wait?
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Written by Joshua Hough Bsc (Hons)
The opinions written are my own and do not represent CPSL Group as a company.