Revised feed-in tariff for solar photovoltaic in the United Kingdom: A cloudy future ahead?

Muhammad-Sukki, Firdaus and Ramirez-Iniguez, Roberto and Munir, Abu Bakar and Mohd Yasin, Siti Hajar and Abu-Bakar, Siti Hawa and McMeekin, Scott G. and Stewart, Brian G. (2013) Revised feed-in tariff for solar photovoltaic in the United Kingdom: A cloudy future ahead? Energy Policy, 52. pp. 832-838. ISSN 03014215

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Official URL: http://dx.doi.org/10.1016/j.enpol.2012.09.062

Abstract

The United Kingdom (UK) started implementing a national Feed-In Tariff (FiT) mechanism on the 1 April 2010, which included specific payment tariffs for solar photovoltaic (PV) installations. However, a revised FiT rate has been put in place starting from 1 April 2012, applicable to any installations with an eligibility date of on or after 3 March 2012. This paper presents, first, an overview of solar PV installation in the UK. This followed by a general concept of the FiT in the UK before analyzing the financial impact of the new FiT rate on the consumers. Similar financial analysis is conducted with selected countries in Europe. The financial analysis investigates the total profit, the average rate of return and the payback period. It is found that the new FiT rate generates very low profit, minimum rate of return and a longer payback period, suggesting a downward trend of solar PV uptake in the future. (C) 2012 Elsevier Ltd. All rights reserved.

Item Type: Article
Subjects: Q Science > Q Science (General)
Divisions: Faculty of Engineering (FOE)
Depositing User: Ms Rosnani Abd Wahab
Date Deposited: 13 Jun 2013 02:56
Last Modified: 13 Jun 2013 02:56
URI: http://shdl.mmu.edu.my/id/eprint/3862

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