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FIT To Fall, Leaked Document from EnergySavingTrust
The energy saving trust have recently published a document, seemingly by accident on their website containing some shocking details about the future of the Feed in Tariff. In summary, it may be reduced to 21p/kWh for installations put into place from the 8th of December this year onwards. This leaves little time for households and installers alike to get solar panels installed if they wish to take advantage of current payback periods of around 10 years; under new proposals, up to 18 years will be necessary for solar panels to pay themselves off.
Whilst it is stated within the document that the proposals are not definite, hopefully it'll be determined over the next week or so. This really highlights the issues in our previous blog post illustrating the vulnerability of solar companies to fluctuations in government policy - the tiny amount of notice given really causes havoc and uncertainty. Please see below a copy of the leaked document from The Energy Saving Trust.
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