Can I get a business energy feed-in tariff too?

With the increasing threat of global warming, more and more people are turning to green energy solutions to power their homes and businesses. As businesses join in this green movement, a growing trend is emerging: comparing business energy tariffs, particularly those from suppliers who produce their energy through renewable means, such as solar panels, wind turbines, tidal energy, and geothermal energy.

As a business owner, what could be better than making money from your energy supplier? When your business has a renewable energy system installed, you can actually profit by selling the energy these systems generate back to the National Grid for a fee, contributing to a cleaner, greener world. This option of earning money through green energy is particularly attractive when looking into the feed-in tariff scheme available in the UK.

What are feed-in tariffs?

Feed-in tariffs (FIT) are government-backed schemes that allow businesses to sell the green energy their renewable systems generate back to the National Grid. This initiative was designed to encourage business owners to produce renewable energy that the National Grid can harness in a sustainable, eco-friendly manner. The National Grid can then distribute this energy to households across the UK, reducing reliance on fossil fuels and helping to meet energy targets set in the Paris Accords of 2016.

The feed-in tariff scheme is divided into two types:

• Generation Tariff: The most common option, where businesses are paid for every kilowatt-hour (kWh) of electricity they generate, whether they use it themselves or not.

• Export Tariff: This allows businesses to use the electricity they generate and sell any surplus back to the National Grid.

The feed-in tariff scheme allows business owners to earn money while making a positive environmental impact. However, the government decided to end the scheme for new applicants in March 2019. For businesses that already have eligible renewable systems installed, the scheme remained available until March 31, 2020.

What are the benefits to your business?

You may wonder, How will applying for a business energy feed-in tariff benefit me and my business? There are numerous advantages:

1. Monetary Rewards: The cost of producing your own energy is significantly lower than purchasing from external suppliers. On average, energy prices are between 11-15p per kWh, while producing your own energy can cost just 5p per kWh. Not only does this save money, but businesses can also earn a profit from their surplus energy.

2. Long-term Investment: As energy prices are expected to rise in the coming years, businesses that generate their own energy will avoid future price hikes. This makes installing renewable energy systems an excellent long-term investment.

What is the best company for feed-in tariffs?

When choosing a business energy supplier for feed-in tariff payments, research is key. Many green energy companies offer a feed-in tariff payment option, but rates and terms can vary. To find the best deal, businesses can compare tariffs through independent sources or use services like Amvia, which provides impartial advice and ensures you get the best business energy deal for your needs.

The feed-in tariff scheme continues to be a great option for businesses that have already installed renewable energy systems. By participating in this scheme, businesses can reduce their energy costs and profit from their green energy, all while contributing to a more sustainable future.