The Feed-in-Tariff is Closing, but Renewable Energy Funding Remains

The Feed-in-Tariff (FiT) was one of the most popular government support schemes for Renewable Energy. Established with the aim of promoting the uptake of renewable and low-carbon electricity generation technologies, the scheme required participating licensed electricity suppliers to make payments to green energy producers. The FiT is set to end, but new funding opportunities are available for those with the knowledge to take advantage of them. The Department of Business Energy and Industrial Strategy (BEIS) has announced that as of 1 April 2019,the FiT scheme will close to new applicants. As a result of a 2018 consultation, BEIS concluded that, “Growth in the small-scale low-carbon generation sector must be sustainable; driven by competition and innovation, not direct subsidies” and the closure “reflects our desire to move towards fairer, cost reflective pricing and the continued drive to minimise support costs on consumers”. This closure occurs at a time when the tariff rates available under the FiT scheme are falling. When the scheme was established in April 2010, tariffs were as high as 52.75p per kWh for a solar photovoltaic system. Now, the maximum tariff a solar photovoltaic system can receive is 4.11p per kWh; with the lowest tariff being 0.20p per kWh. As the landscape is changing, opportunities are arising for consumers and professionals alike who are aware of these schemes. Contracts for Difference (CfDs), Green Bonds, Power Purchase Agreements (PPAs) and Energy Service Companies (ESCOs) are just some of the options still available; albeit less well known than the FiT. An expanding number of private sector Energy Companies are now offering Power Purchase Agreements (PPAs), where the Energy Company agrees to purchase electricity directly from an energy generator. Contracts are flexible, and as demand for green energy increases, the options available to green energy producers is set to grow rapidly. With the supply and market expanding rapidly, expert knowledge surrounding Renewable Energy is now key to navigating this changing market. SMEs, consumers and those looking to break into the sector position themselves for success with training from leading lecturers in the industry. The Renewable Energy Management and Finance course will provide you with detailed, up-to-date information on these schemes; as well as case study analysis, technical calculations (such as emissions) and Life Cycle Assessment for Renewable Energy projects.