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FIT rates tumble
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RichardW



Joined: 24 Aug 2006
Posts: 7983
Location: Llyn Peninsular North Wales
PostPosted: Fri Oct 28, 11 8:43 am    Post subject: FIT rates tumble Reply with quote    

To be announced later today.


Fit payment rates for under 10kWp PV installs is to be reduced from 43.3p to 21p for all installs fitted & registered after 8/12/2011.

If you are planning on doing it do it get it booked TODAY cos they are going to get busy as soon as this goes public.

Bebo



Joined: 21 May 2007
Posts: 12395
Location: East Sussex
PostPosted: Fri Oct 28, 11 9:33 am    Post subject: Reply with quote    

Phew, glad I got mine installed in August.

Hairyloon



Joined: 20 Nov 2008
Posts: 10182
Location: Today I are mostly being in Yorkshire.
PostPosted: Fri Oct 28, 11 9:43 am    Post subject: Re: FIT rates tumble Reply with quote    

RichardW wrote:
If you are planning on doing it do it get it booked TODAY cos they are going to get busy as soon as this goes public.

More public than on the TV you mean?

RichardW



Joined: 24 Aug 2006
Posts: 7983
Location: Llyn Peninsular North Wales
PostPosted: Fri Oct 28, 11 9:50 am    Post subject: Reply with quote    

When did it hit the TV?

What have they actually said?

Cant see it on any of the on line news & the document that it was in was on line in a not very secure secured area. It now been removed (I have a copy).

Nick



Joined: 02 Nov 2004
Posts: 29457
Location: Hereford
PostPosted: Fri Oct 28, 11 10:04 am    Post subject: Reply with quote    

Downsizer is the new WikiLeaks!

Hairyloon



Joined: 20 Nov 2008
Posts: 10182
Location: Today I are mostly being in Yorkshire.
PostPosted: Fri Oct 28, 11 10:04 am    Post subject: Reply with quote    

RichardW wrote:
When did it hit the TV?

What have they actually said?

It was on yesterday that they plan to halve FIT rates... Think it was ITV news, but it didn't have my full attention.

RichardW



Joined: 24 Aug 2006
Posts: 7983
Location: Llyn Peninsular North Wales
PostPosted: Fri Oct 28, 11 10:14 am    Post subject: Reply with quote    

The plan was for a reduction that started in April 2012 as per the initial FIT scheme rules. The expected reduction was about 30% not the over 50% thats has been muted. Giving just 6 weeks notice when install are planned for months before installation is bad for the industry.

People will be cancelling installs that wont be installed & registered by the cut off date.

Hairyloon



Joined: 20 Nov 2008
Posts: 10182
Location: Today I are mostly being in Yorkshire.
PostPosted: Fri Oct 28, 11 10:29 am    Post subject: Reply with quote    

Good job this government is in favour of small business, otherwise a lot of those installers are likely to fold...

yummersetter



Joined: 26 Jan 2008
Posts: 2987
Location: Somerset
PostPosted: Mon Oct 31, 11 11:50 am    Post subject: Reply with quote    

Confirmed, more or less
http://www.fitariffs.co.uk/FITs/regulation/first_review/comprehensive/ which also has a link to the consultation document

Following RichardW's posting, we arranged an installation that we'd been mulling over for a while with the company who did a good job on the studio system. They came over within a hour and did the site survey and have agreed to install in 10-14 days - we were their first callers and before closing that night they'd had over a hundred requests for quotes.

Nicky Colour it green



Joined: 25 Jun 2007
Posts: 8143
Location: Devon, uk
PostPosted: Mon Oct 31, 11 12:22 pm    Post subject: Reply with quote    

and we were just thinking of going for it....now have to rethink

shadiya



Joined: 02 Feb 2008
Posts: 1279

PostPosted: Mon Oct 31, 11 1:23 pm    Post subject: Reply with quote    

So much for Cameron and his greenest government ever spiel

Lorrainelovesplants



Joined: 13 Oct 2006
Posts: 5475
Location: Cornwall
PostPosted: Mon Oct 31, 11 2:54 pm    Post subject: Reply with quote    

we cant build our apex before Dec so we will now do our own thing.

JB



Joined: 08 Jun 2005
Posts: 7508
Location: 91 N
PostPosted: Mon Oct 31, 11 3:00 pm    Post subject: Reply with quote    

Can't say I'm surprised. The government need or at the very least want to cut some of the expenditure. The FIT rates did seem extraordinarily generous as they were about 4 times the price of domestic electricity and I can't help feeling that if those rates are needed to persuade people to take up solar power then it suggests that solar power is either not cost effective in it's own terms or is not yet a sufficiently mature technology to warrant widespread deployment.

I do wonder how many people are going to suffer the problems that a lot of early adopters suffer because they went into solar early because of the subsidies rather than because of it being a good technical solution?

RichardW



Joined: 24 Aug 2006
Posts: 7983
Location: Llyn Peninsular North Wales
PostPosted: Mon Oct 31, 11 5:11 pm    Post subject: Reply with quote    

Lorrainelovesplants wrote:
we cant build our apex before Dec so we will now do our own thing.


Dont cut your nose off just yet.

1, you will pay 20% VAT on all the bits you buy rather than the 5% for an installed system

2, you wont get any payments of any kind

3, 21p sounds low when compared to the 43.3p rate but will still give a good return & miles better than no payment at all.

4, if you cant get in before the 12/12/11 (new date) dead line then wait till just before the next rate drop & install then for even less cost than currently charged. Just think 18 months ago an under 10k 4kWp system would have been but a dream, now its common. By the time the next reduction comes round you could be looking at sub 8 or 9k.

ros



Joined: 19 Jul 2005
Posts: 2469
Location: Beds
PostPosted: Mon Oct 31, 11 5:43 pm    Post subject: Reply with quote    

I've just spoken to a nice lady from one of the rent-a-roof schemes, who called to say not to worry- this wouldn't have an impact on them as their business model/backers had assumed a drop to 20p when they did the viability study.

She also said they were working with a group of mortgage companies to determine the best way forward to allay their fears about the schemes and to get their help with the contract.

'tis not dead yet

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