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Repairs & ServicingThe UK Feed-in Tariff Scheme (FIT) was launched in April 2010. It is the mechanism through which home-owners get paid for generating clean electricity with Solar PV panels. The rate paid is fixed according to when you enter the scheme and the highest rates are available to all those who have their solar PV system installed before April 2012.
Every unit of electricity you generate through your solar PV system will earn you 43.3p simply because you have generated it (43.3p is the rate paid for any system up to 4kwp which is the vast majority of domestic systems. See the table below for the rate paid for larger systems).
25 year scheme: The FIT scheme launched in April 2010 has a 25 year life span guaranteed by the government. Because of this level of certainty it is not surprising that it has attracted a lot of investor interest. Rather than face the risk of the stock market, many investment houses and even pension funds are buying up large scale solar installations for the security of the long-term guaranteed returns.
Index linked payments: The rate paid for the electricity generated is linked to the retail price index. This means that it increases every year in line with inflation so that your income is protected at the same value throughout the 25 years of the FIT scheme.
Tax free payments: All the payments for domestic systems are tax free. Every pound you otherwise earn through working or investing is taxed as income. For many people this tax is at the higher rate of 40%. The income earned from a solar PV system under the UK FIT scheme is tax free income for domestic users.
