Solar panel FIT cuts criticised - 02/08/2012
The government has announced the reduction of the Feed-in Tariff (FIT) rate for generated electricity.
This means homeowners who install solar panels will no longer receive 21p for every kWh produced, but a lower rate of 16p, This is Money reports.
On average, annual earnings will fall from £622 to £474 as a result, with the reduced rate criticised by consumers.
Since it was launched, almost 250,000 householders have added solar technology to their roofs.
However, regular changes to the scheme and cuts to its electricity earning rates have led to criticism since late 2011.
Many individuals claim FIT payments are the main benefits of having solar panels, as they can deliver £666 a year, compared with the £90 saving they provide on household bills.
The Energy Saving Trust also notes that people can sell surplus energy back to the National Grid if a home is producing more than is needed.
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