Ofgem have just released the new Solar PV FIT rates for April to July 2015. Whilst the tariff for 4kw has dropped, Solar PV will remain a good return on investment. Despite the price of oil and gas dropping in recent months, Solar PV is still a great option, particularly in the long term. Whilst oil prices are open to fluctuations in the market, once a PV system is in place the government backed FIT payments are guaranteed for 20 years. An average Cornish property with a 4kw south facing system would generate around £18,500. Current install prices for a 4kw system are around £5500 – £6000 depending on the property. Once the initial investment has been made to install PV, the savings on energy bills and income from FITs is guaranteed, regardless of market prices.
The higher level tariff for up to 4kw will drop from 13.88 p/kWh to 13.39 p/kWh
The currrent Ofgem rates for Solar PV FIT payments can be found here