The feed-in tariff system was designed as an incentive for home owners and building managers to move away from conventional fossil fuels to renewable energy sources. Since its inception, it has been successful in this aim.
From the end of March 2019, the scheme closed to new applicants. Those who have already registered their pv systems with OFGEM will be unaffected.
As yet, the findings of the consultation undertaken earlier in 2018 by the Department for Business, Energy & Industrial Strategy (BEIS) have not been published and we do not know what will replace the feed-in tariff. We will update the site with news when it becomes available. At least one electricity supplier (Octopus Energy) is offering an export payment and others are likely to follow suit.
For those who are already registered, tariffs will change in accordance with index-linking.
Solar PV is here to stay and will be a good long term investment for years to come.
Feed-in tariffs will be exempt from income tax. This means that domestic users and other income tax payers will not be taxed for any income received from the Feed-In Tariffs.
Companies will be subject to Corporation Tax on their tariff income; however they should be able to claim back the installation cost against tax.