Originally Posted by Hamwich
Originally Posted by Peter J
Just got the FIT payment for June/September: £827.65.

Generation rate is 55.36p/unit,
Feed back rate is 3.90p/unit on 50% of the generated power.

This year should be over £2100 and since the start in November 2011 we will exceed £20,000 by the year end.



Surely the Generation rate is in pounds/Mwh? The wholesale price of electricity is currently around £25 on the day-ahead market. 55p/unit is £550/Mwh. The reason why they've stopped FiT is because it's bankrupting the electricity companies, but at 55p a unit they'd be out of business within weeks smile


The rate is 55p/kw/h... It is based on a 25 year Contract starting in November 2011 and is index linked to the RPI, so it goes up every year: it is also tax free.
If the commercial 24 hour rate is £25/mw/h then it is not at all surprising that the supply companies are bleeding cash.
The blame lies with the Government who wanted to incentivise the installation of solar panels. Wherever the calculations were made in whitehall there was clearly little understanding of the market for electricity or the way solar and wind power would take off.
Our contract is with EON. I am waiting for the day when they try to buy out the rest of the contract. I would take £45k. (16 years at £2000 with inflation)

Peter,
66, 2016 Porsche Boxster S
No longer driving Tarka, the 2014 Plus 8...