There are three financial benefits from a solar photovoltaic (PV) system to be taken into account:
- The first being the Feed-In Tariff payments, which is a government backed payment to businesses that register a solar system with OFGEM as a generator. This means that they then qualify to receive payments from their chosen FIT provider (SSE, British Gas or similar). The payments are made against meter readings of the generated power multiplied by the FIT rate applied at the time of registration.
- The second is Export, so any unused energy also qualifies for an additional payment for selling energy to the grid. The in house demand has priority and is always used first and at times of low demand, the excess power will automatically be exported to grid.
- The third reason is energy savings. With a business using PV self-generated power, there is a saving factor, as power from the grid is no longer demanded. The saving is a quantifiable amount but not a cash payment such as the FIT and Export.