In an annoucement this week, the Government appears to have listened to public opinion and set the new Feed In Tariff for electricity (PV) at 41.3p per Kwh. This will guarantee owners of a Photovoltaic system which was commissioned after July 2009 to a sliding scale of annual payments for the next 25 years.
This is fantastic news and rewards owners who will now benefit from cheaper electric bills, money earnt from excess electricty being sold back to the energy companies and an annual lump sum meaning that a photovoltaic system can also be looked at as a tax free source of income as well as a money saver.
Another pleasant surprise was the unexpected announcement that a Thermal Hot Water Feed In Tariff is to follow in April 2011 although the amounts are yet to be confirmed.
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