The FiT scheme is designed to save money when installing a technology which generates electricity in the home, such as the Baxi Ecogen dual energy system. The main benefit of claiming FiT is that you receive a fixed payment for the electricity you generate, whether you use it yourself or export it into the local grid.
The FiT is made up of two parts:
- The generation tariff - a fixed payment of 10p per kilowat hour (kwh) of electricity generated by the Baxi Ecogen, regardless of whether you use it in your home or export it to the local grid
- The export tariff - an additional payment made for each kwh that you export back to the grid. This payment is set at 3p per kwh exported, and is index-linked.
Feed-in Tariffs have been designed to encourage energy efficiency by paying you for the energy you don't use as well as the energy you do use. You can therefore increase your savings by being more energy efficient, as the less electricity you use yourself, the more you can export back into the grid.
Not only do you receive these financial benefits from claiming the FiT - you can also be safe in the knowledge that you are using low carbon energy which will reduce your carbon footprint.
