There is a special exemption for householders first announced in the pre-budget report 2009. Under this exemption the tariffs received for energy produced under the FITs (both the generation and the export tariff) are exempt from income tax provided that the households: use renewable technology to generate electricity. .
There is no equivalent exemption for business users, who therefore have to declare the income from FITs installations as part of their taxable revenue. Companies can receive. .
Tariff-eligible installations can be undertaken by companies supported by Venture Capital Trusts (VCTs) or financed under the Enterprise. .
Some types of renewable energy installation were available for Enhanced Capital Allowances (ECAs), but the Treasury intends to remove all technologies eligible for FITs and the RHI from the ECA scheme. [pdf]
The most common solar PV installation in UK homes is a 3.5kWp system, capable of generating approximately 3,000kWh of electricity each year in optimal conditions. This amounts to around 75% of a typical household's electricity consumption, meaning that a solar system can make a home largely self-sufficient, dramatically. .
A large portion of potential solar panel earnings comes from the government's generation tariff, which is part of the Feed-In Tariff (FIT) scheme.. .
On top of the generation tariff, you also receive a fixed rate of 4.5p/kWh for any surplus electricity that you feed back into the National Grid. This rate is subject to change, but if you join the. .
It's important to remember that all the solar PV earnings you make must be offset against the cost of installing and maintaining your solar system. Installation cost ranges between. [pdf]
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