My First FIT Payment

Last week, two and a half months after I submitted the readings, I finally received my first FIT payment for the electricity generated by our solar PV installation during September, October and November last year. Very pleasant at last to see money coming back in to pay off what we spent six month ago.

The total payment was very close to 2.4% of the cost of installation. I don’t think the next three months, mostly covering December, January and February will be anything like as much. Looking at my data, about 15.5% of the annual total is supposed to be generated between September and November compared with 7.5% between December and February. Things should start to look a good deal better from now on though as production ramps up through the Spring and Summer and the annual FIT rate increase (4.85% this year) takes effect in April.

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