Feed-in Tariff (FIT)
Feed-in Tariffs (FITs) are being designed to incentivise small scale, low carbon electricity generation. Following a consultation in the first quarter of 2010, the UK Govenment will sets out details of its FITs scheme. This “clean energy cashback” will allow many people to invest in small scale low carbon electricity, in return for a guaranteed payment for the electricity they generate.
These FITs will work alongside the UK's Renewables Obligation (RO), which will remain the primary mechanism to incentivise deployment of large-scale renewable electricity generation, and the Renewable Heat Incentive (RHI) which will incentivise generation of heat from renewable sources at all scales.
The FITs scheme will start from 1 April 2010 to encourage deployment of additional low carbon electricity generation, particularly by organisations, businesses, communities and individuals who are not traditionally engaged in the electricity market.
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