After weeks of speculation and uncertainty the Comprehensive Feed-in Tariff (FiT) document has been finally been published. Today, shortly after 10.30am, the UK Department of Energy and Climate Change (DECC) revealed what lies ahead for solar power in the UK.
As expected DECC has decided to cut the FiT rate for solar PV installations by more than 50 percent. The proposals, subject to consultation, would introduce new tariff rates for schemes up to 4kW to 21p/kWh – from the current 43.3p/kWh. In order to keep a balanced rate of return systems between 4kW and 250kW will also be reduced.
The consultation period ends on 23rd December but the proposed cut off period is 12th December. This means solar PV systems need to be commissioned and applications for FiTs received by FiT licensees by the 12th. Applications received after the 12th could well qualify for the current tariff rate until 31st April 2012, after that qualify for the proposed 21p/kWh rate.
The proposed tariffs are as follows:
