Feed In Tariffs
The Government commenced the FIT scheme on 1st April 2010 to provide a mechanism to pay people for creating their own "renewable electricity". The tariffs have been introduced to help increase the level of renewable energy in the UK towards our legally binding target of 15% of total energy from renewables by 2020.
There are thre financial benefits now avaliable to renewable energy investers.
•A payment for all the electricity you produce from your generation system
•Additional payments for electricity you export into the grid
•Benefit in-kind by a reduction on your standard electricity bill, from using energy you produce yourself
These payments are index-linked for the payment duration and for domestic customers, tax-free.
Most forms of renewable electricity generation in all sizes up to 5 megawatts are eligible for FIT payements.
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