The new energy power generation feed-in tariff subsidy policy is aimed at small-scale renewable energy and low-carbon power generation technologies, including solar photovoltaics of 5MW and below, wind power, hydropower and new energy incentive policies for micro-cogeneration of 2kW and below.
FiT can bring the following three benefits:
Whether it is for personal use or access to the Internet, there is a generation tariff as long as it generates electricity and is not wasted;
Selling electricity when selling to the grid;
Spontaneous use makes the electricity bill that needs to be paid less.
The British government announced that it plans to abolish the feed-in-Tariff (FiT) policy for new energy generation from April 2019.
The FiT policy was introduced in 2010 to provide subsidies to small-scale renewable energy power generation companies at a flat rate per unit of electricity generation. Funding is provided to small-scale renewable energy power generation companies in the form of taxes, which are borne by consumers.
The Business, Energy & Industrial Strategy (BEIS) said that when the FiT policy was first introduced, it is estimated that the average annual energy cost of consumers will increase by 440 million pounds in the next ten years. In the latest estimate, the average annual energy cost of consumers will increase by 1.6 billion pounds in the decade from 2010 to 2020.
The analysis of the impact assessment shows that the cancellation of the FiT policy will save the consumer's annual energy costs by 13 to 1.9 billion pounds compared to the continued implementation of the subsidy policy.
BEIS added: 'Since 2010, government support has greatly reduced the cost of generating electricity for small clean energy. As costs continue to fall, even small subsidies in the industry can survive and develop even without subsidies, so the government plans to cancel Subsidies to protect the long-term interests of consumers are reasonable.'
The proposal is under consultation, and the deadline is September 13, 2018.