New Solar PV tariff 1St July 2015

By Neil Craig | 17 June, 2015 |

New Solar PV tariff 1St July 2015 – 1st October 2015

As usual due to high solar PV deployment across a range of the system sizes the Solar PV tariff has been adjusted in line the government plan.
What does this mean for the home or business owner looking to invest in a Solar PV system?
Well we’ve put together some examples so you have all the info you need to make your decision!
Here are some examples of our most popular sized systems

Information on Solar PV tariff levels can be found on both the Energy saving trust web-site and the ofgem website

with the published ofgem paper with tariff levels available here

4.0 kw -New Solar PV tariff 1St July 2015 – 1st October 2015
System cost 16x250w panels                   £5,550.00 +VAT (5%)
Output                                                          3,350 kw’s per year
FIT income (12.92p)     3350×12.92       £432.00
Export income               1675 x 4.8p        £80.00
Expected savings           1675 x 12p          £201.00
TOTAL RETURN                                       £713.00
Payback time £5,827.50 / £713.00        8.1 year payback (20 year tariff term)

The most common system size we fit here at GMC. We do this with 16x250w panels or 14x280w panels. We also install accessories to maximise your investment such as hot water immersion by-pass systems and micro-inverters to maximize generation. All of our inverters come with at least a 10 warranty and wi-fi or cable internet connectivity for monitoring.

10.0 kw -New Solar PV tariff 1St July 2015 – 1st October 2015
System cost 40 x250w panels                   £12,380.00 +VAT (5%)
Output                                                           8,375 kw’s per year
FIT income (12.92p) 8375 x 11.71            £980.00
Export income 4,187 x 4.8p                      £201.00
Expected savings 4,187 x 12p                   £502.00
TOTAL RETURN                                        £1,683.00
Payback time £12,999.00 / £1,683.00   7.7 year payback (20 year tariff term)

GMC have installed up to 10kw on large residential properties who consume a lot of energy. With the cost to install lower than ever, it makes sense to install a larger system if you are a high user.

30.0 kw -New Solar PV tariff 1St July 2015 – 1st October 2015
System cost 120 x 250w panels                 £37,140.00 +VAT (5%)
Output                                                            25,125 kw’s per year
FIT income (12.92p) 25,125 x 11.71          £2,942.00
Export income 12,562 x 4.8p                     £603.00
Expected savings 12,562 x 12p                   £1,507.00
TOTAL RETURN                                          £5,052.00
Payback time £38,997.00 / £5,052.00    7.7 year payback (20 year tariff term)

NOTE: in some cases it may be beneficial to keep the size of your system to 30.0 kw. This is because the export is still deemed at 50%. With our clients we look at consumption and design the best sized system to suit.
For example a farmer who uses little electricity all year then a lot during harvest. By sizing a 30.0 kwp system the farmer gets the export while still reducing consumption during harvest. If you install over 30.00 kw you either need to pay for an export meter (annual charge) or if you are a high user then don’t collect it as the export will be very low.