The Government finally published the official response to the FIT consultation process yesterday.. and its good news for anyone looking to install renewable systems. In relation to mid-sized (100KW to 500KW) wind turbines the key points are:
- Generation tariff of 18.8p per kWh
- Export tariff of 3p per kWh – Opt out available to allow sale on the open market
- Indexation – the tariff will stay in line with inflation (RPI)
- 0% digression – the tariff will not reduce for installations in years 2, 3, 4 etc
- The scheme will run for 20 years
The single most important change is the addition of indexation which will protect renewable investments from runaway inflation, should it occur.