Wednesday 4 January 2012

The Ayes are on the right, But DECC swings to the other side

As indicated before Christmas by Uncle Greg Barker, theGovernment have appealed against the High Court decision in December that the Government decision to drop off the FiT before the end of the consultation period had elapsed was illegal.
Anyways, the upshot is for potential owners of PV systems, and people who have installed after 12th December, that the worst that can happen is that your system will attract 21p a generated unit for the next 23 years. (We are already 2 years into the 25 year scheme), which works out on Rudge Renewable install costs a 9-10% ROI. (be aware of those 'double glazing sales' based companies)

Of course the other worst that can happen would be holding off having an installation waiting for the magic (and some (Greg) may say greedy), 43p to reappear, possibly at the end of January. By then, as we are finding, speculators are already booking installations anticipating the very short time period of 43p, which will soon revert to a lower rate.

The industry feels that if the rate is 'forced' back to 43p, the Government will deem this as Busting the Budget and will almost definitely drop the rate thereafter to a very low rate, such as 9p to compensate..

The 'Budget' is not taxpayers money, but simply a little bit of profit off the Power Companies already (as we have seen last year) obscene profits. The FiT costs pence for every bill payer every year, not pounds as indicated by a poorly misinformed Greg Barker.

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