Preliminary Accreditation for Renewables FIT

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News article

Preliminary accreditation for renewables FITs rates

December 2012

renewable energy news

The Government has published rules which could help farmers and landowners that are looking to develop renewable projects to ‘lock in’ to current Feed-in-Tariffs (FITs) even if the project has not been built, helping them gain the optimum level of tariff support.

The rules will allow those developing projects to lock into the FIT from 1st December 2012. Up until now, the FIT rate payable has been the qualifying rate as at the ‘eligibility date’ (being the later of project commissioning or the date you apply to Ofgem for accreditation). Many farmers have been put off investing in renewables because of the risk that FIT rates may have reduced by the time they want to build the project. 
 
Mark Newton, head of renewable energy at Fisher German comments “For example, if you have a wind or solar project of over 50kW, with planning permission and a valid grid connection offer then you can gain ‘Preliminary Accreditation’ at the current FIT rate. You then have a window of 6 months with solar, 12 months for wind and AD, and 24 months for hydro, in which to build and commission the project. 
 
“Solar FIT rates currently reduce every 3 months, but with wind they are fixed to 1st April 2014.  With ‘Preliminary Accreditation’, however this allows people to lock into the higher FIT rate ahead of ordering your renewable technology, while you sort out planning conditions, get funding and build the project.
 
“It is imperative that for farmers and landowners looking to develop renewable projects act now otherwise they could end up receiving considerably less support from the FITs.”
 
For further information, please contact Mark Newton at Fisher German on 01858 411215 or email mark.newton@fishergerman.co.uk 
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