A feed in tariff (FiT) is a means for governments to set above-market rates for electricity generated from renewable sources and fed into the grid. A feed in tariff is effectively designed to increase the use of renewable energy sources, and to help Government’s to meet their carbon reduction obligations.
The other part of the scheme is the Renewable Heat Incentive, a similar measure for heat.
The Tariffs give three financial benefits:
- A payment for all the electricity you produce, even if you use it yourself
- Additional bonus payments for electricity you export into the grid
- A reduction on your standard electricity bill, from using energy you produce yourself
Where can I find out more?
For the latest, up to date information on feed-in tariffs, visit the DECC (Department of Energy and Climate Change) website.
Other useful sides include: