Saturday 29 October 2011
Leaked FiT reduction document....
Many of you will have either seen or heard about the alleged 'leaked' document onto the Energy Savings Trust (EST) website. In a nutshell, it indicated the current 43.3p FiT will be reduced to 21p on December 8th 2011.
Obviously, this is a bombshell to many people, whether installers or customers booking installations before the well documented FiT adjustment date of 31st March.
However, DECC have come back on Twitter with the short statement:
'Consultation on changes to the solar PV FIT to be published to Parlt on Mon. Doc on EST site earlier was neither final nor accurate'
Thus admitting this was an error!!
So, we will need to wait till Monday 31st Oct 2011 for the real version. Lets hope the document was wildly innaccurate on the date. However, a rate of 25p has been assumed for some time, as this will bring the payback time back to 10-12 years as was originally designed at the start of the FiT, and still far better than the Bank can offer!
To see the rogue document click here for a link
Check in with us on Tuesday 1st November to get an update on the real facts.