The government has announced new feed-in tariff rates for solar PV to apply from 8 February 2016. The tariffs will be lower but the reduction is not as big as first proposed by the Department of Energy and Climate Change (DECC).
To protect a new budget allocation of £100 million, there will be a four-week pause on new feed-in tariff registrations from 15 January to 8 February 2016. Installations between these dates will receive the new 4.39p per kWh rate from 8 February onward.
The government now aims to offer a 4.8% return on solar PV investments and there will still be on-going quarterly degressions to slowly reduce tariff rates. The cost of solar installations should also continue to slowly fall.
For further details see:
Money Saving Expert – Solar panel earnings to be halved from February – are they still worth it?
Solar Power Portal – Government sets future domestic feed-in tariff rate at 4.39p per kWh
YouGen – Feed-in Tariff for Solar PV cut to 4.39p/KWh, not 1.63p