Replacement scheme announced for Feed in Tariff
On 10th June 2019 the Government published its final proposals for the Smart Export Guarantee (SEG) scheme to replace the Feed in Tariff which closed to new applicants on 1st April 2019.
The SEG proposals require all electricity supply companies with over 150,000 customers to offer a price at which they will buy surplus electricity generated by a solar PV array before 1st January 2020. The price paid for the surplus electricity is not fixed centrally, allowing each supply company to offer its own rate and possibly different rates will be applied at different times of the day to reflect the peaks and troughs in demand.
With some companies already offering to buy in electricity ahead of legislation being passed, the financial incentive for installing a solar PV array looks like it may return to similar levels as previously experienced under the FiT scheme.
For further information, please contact Fervo Renewable Energy.