FIT Rate 2023/24 Uplift

[Mart]

I know this'll sound stupid, but I feel a bit guilty getting such a big increase. As this is mainly because of the huge cost increase of energy (gas), it could mean a negative figure in the near future if things get resolved / gas consumption is reduced to match reduced supply, now that Russia is banned. So could we see negative impacts on the FiT in future?

Also, will the same figure be used for the index linking of CfD's? If so then the early offshore wind contracts will hit ~£200/MWh (but ending in a decade). The latest contracts at ~£48 will jump to £54.50, and HPC will increase to ~£130. Ouch!

[Joeboy]

It doesn't sound stupid Mart, I had £240 in my Octopus account last night. Its now negative £10, I'm ok with the increase!
No guilt.

[Stinsy]

I know this'll sound stupid, but I feel a bit guilty getting such a big increase. As this is mainly because of the huge cost increase of energy (gas), it could mean a negative figure in the near future if things get resolved / gas consumption is reduced to match reduced supply, now that Russia is banned. So could we see negative impacts on the FiT in future?

Also, will the same figure be used for the index linking of CfD's? If so then the early offshore wind contracts will hit ~£200/MWh (but ending in a decade). The latest contracts at ~£48 will jump to £54.50, and HPC will increase to ~£130. Ouch!

Don't feel guilty! You invested in solar when it wouldn't have been financially viable without government subsidy. The power your panels generated reduced the country's need for gas right when this was crucial.

If only we'd fitted more rooftop solar (together with domestic batteries) we as a society would have been even better-placed to weather the current storm. (Round my way I'd guess that fewer than 1 in 20 houses have solar, imagine a world where 50-75% of roofs are adorned!).

[openspaceman]

Don't feel guilty! You invested in solar when it wouldn't have been financially viable without government subsidy. The power your panels generated reduced the country's need for gas right when this was crucial.

If only we'd fitted more rooftop solar (together with domestic batteries) we as a society would have been even better-placed to weather the current storm. (Round my way I'd guess that fewer than 1 in 20 houses have solar, imagine a world where 50-75% of roofs are adorned!).

Where's the "AGREE" emoji?

[Mart]

Yeah guys, good point about RE reducing gas consumption. Have to say that whilst the early FiT rates are very high, the scheme did jump start the PV industry by getting supply high enough to bring costs down. I think of all the FiT schemes, Germany needs most praise for the heavy lifting they did (cost wise) for PV.

Also back then (2011(ish)) there were a lot of negatives, such as the low SAP figures for generation prediction, expected degradation of 1% to 2%pa, new inverters maybe every 5-10yrs, and costing £1,400*. Amazing how cheap and easy PV actually turned out to be.

*I may be misremembering, but I think the SMA 3600TL's (and similar) were around that cost 10yrs ago.

[Stinsy]

Yeah guys, good point about RE reducing gas consumption. Have to say that whilst the early FiT rates are very high, the scheme did jump start the PV industry by getting supply high enough to bring costs down. I think of all the FiT schemes, Germany needs most praise for the heavy lifting they did (cost wise) for PV.

Also back then (2011(ish)) there were a lot of negatives, such as the low SAP figures for generation prediction, expected degradation of 1% to 2%pa, new inverters maybe every 5-10yrs, and costing £1,400*. Amazing how cheap and easy PV actually turned out to be.

*I may be misremembering, but I think the SMA 3600TL's (and similar) were around that cost 10yrs ago.

Long term performance of solar has been beyond anyone's expectations! It really is astonishing to see inverters with 5-year expected lifespans still working and at original efficiency more than 10 years later. Sure in the early days there were some failures but I can't remember the last time I heard of one. The unanimous view on panel deg seems to be zero after 10-years so far as it is possible to measure.

In the meantime panel prices have dropped 90%.

[Thebeeman]

My Fronius inverter installed Feb 2011 was giving fault codes in June 2019. Fronius were suggesting numerous service visits to "try" various fixes. Decided to cut my losses and just replaced with a new Fronius.