Ireland has been a leader in the renewable energy revolution, implementing feed-in tariffs (FITs) to incentivise households and businesses to generate clean energy from solar or wind sources. By providing payments of up to €0.135/kWh for the energy they feed into the grid, FITs have encouraged more people to invest in green energy sources and contribute to a greener future for all.
In this blog, we’ll explore how feed-in tariffs have played a significant role in driving the growth of renewable energy sources in Ireland and how FITs are an important step towards a greener and more sustainable future for the country.
What is a Feed-in Tariff?
A feed-in tariff (FIT) is a policy mechanism to encourage increased electricity generation from renewable energy sources. Under a FIT program, individuals and businesses that generate electricity from renewable sources and feed it back into the grid are paid a premium rate for the energy they produce.
The premium rate is usually set at a higher level than the retail price of electricity, making it more financially viable for individuals and businesses to invest in renewable energy technology.
How much can I save with the Feed-in Tariff program in Ireland?
Ireland's Feed-in Tariff (FIT) program offers a significant financial incentive for individuals and businesses to generate and feed clean energy into the grid. The savings will vary depending on the type of property and the size of the renewable energy system installed.
Domestic Savings
For a typical 3-bedroom house in Ireland, the cost paid to the homeowner is €5,880, and the payback period is four years and four months. The net lifetime savings for the homeowner is €50,290. These savings are based on the current FIT rate, which is subject to change.
Commercial Savings
The FIT program also applies to non-domestic solar installations, such as those on farms and community centres. For example, a farm with a 10kWp solar array installed will be paid for the electricity exported back to the grid up to a maximum of 8kW at any particular time. Non-domestic installations that are between 6kWp and 50kWp will receive the Premium tariff. The current FIT rate for non-domestic solar installations is €0.135/kWh from 2022. This rate is capped at 80% of generation capacity to encourage self-consumption.
How do I get the maximum feed-in tariff rate?
To get the best feed-in tariff (FIT) rate, you will need to consider several factors:
System size and capacity
The capacity of your renewable energy system will directly impact the amount of electricity you generate and the amount of money you earn through the FIT program. A larger system will typically generate more electricity and make you more money.
Type of technology
Different renewable energy technologies, such as solar, wind, hydro, and biogas, are eligible for different FIT rates. Choosing a technology that is both appropriate for your property and offers a competitive FIT rate is important.
Location
The location of your property can also impact the FIT rate you receive. Some regions may have more favourable conditions for renewable energy generation and, therefore, offer higher FIT rates.
Energy consumption
The energy you consume on your property will also affect your earnings through the FIT program. If you can reduce your energy consumption, you can generate more electricity from your renewable energy system and earn more money through the FIT program.
Research and compare
It's important to research different FIT offers and compare them to find the one that best suits your needs and goals.
How to sell my energy through a feed-in tariff?
To sell your energy through the feed-in tariff (FIT) program in Ireland, you will need to install a renewable energy system, such as solar panels, on your property. Once your system is installed, you will need to apply for participation in the FIT program through the Commission for Regulation of Utilities (CRU).
The application process typically includes providing information about your system, such as its capacity and expected output, and proof that it meets certain technical and safety standards. Once your application is approved, you will be eligible to receive a premium rate for the electricity you generate from your renewable energy system and feed back into the grid.
Benefits of the FIT program
The FIT program in Ireland has been instrumental in driving the growth of renewable energy in recent years. Some of the key benefits of the program include the following:
Encouraging investment in renewable energy technology
The premium rate offered under the FIT program makes it more financially viable for individuals and businesses to invest in renewable energy technology. This has led to a significant increase in the number of solar panels and wind turbines installed in Ireland in recent years.
Promoting energy independence
By encouraging individuals and businesses to generate their own electricity from renewable sources, the FIT program helps to reduce Ireland's dependence on fossil fuels. This is important for both economic and environmental reasons.
Creating jobs
The growth of the renewable energy industry in Ireland has created a significant number of jobs in the country, particularly in the areas of installation, maintenance, and research and development.
Reducing greenhouse gas emissions
By increasing the amount of electricity generated from renewable sources, the FIT program is helping to reduce Ireland's greenhouse gas emissions. This is important for addressing the issue of climate change.
Empowering communities
The FIT program allows communities to generate their own electricity, which can help to reduce energy costs and increase energy security.
How can NuSolas Energy help?
NuSolas Energy is an Irish solar panels company that provides solar panel services to individuals and businesses throughout the country. We can help you take advantage of the FIT program by providing the information and guidance you need to generate electricity from solar power.
We offer a wide range of services, including:
Solar panel Installation
Our team of experienced technicians can help install solar panels on your property, so you can start generating your own electricity and earning a premium rate through the FIT program.
Solar panel maintenance
We can help you maintain your solar panels to operate optimally, maximising your earnings under the FIT program.
FIT application assistance
Navigating the FIT application process can be confusing, but our team has the knowledge and experience to guide you through the process and ensure that your application is successful.
Energy monitoring
We can provide you with energy monitoring systems that will allow you to track how much electricity your solar panels are generating and how much money you are earning under the FIT program.
Customised solutions
Every property and energy usage is unique. We provide customised solutions tailored to your specific needs and goals.
Make your property sustainable with NuSolas Energy
Ireland's Feed-in Tariff program encourages the use of renewable energy sources by offering financial incentives to those who generate electricity from them and feed it back into the grid. Take advantage of this opportunity to make your property more sustainable.
NuSolas Energy can assist you in taking advantage of this program. We specialise in solar panel installation, maintenance, and FIT application assistance, and we will work with you to create a customised solution that suits your specific energy needs and goals. Contact us today to learn more about how we can help you.
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