The Northern Ireland Government is set to cut the grant for small scale Photovotaic installations (residential roof top) from 4 to 1.6 NIROCS.
This will have the effect of reducing income from a 4KWp photovoltaic installation from around £900 to £600 per year. Paybacks on PV installations will therefore increase from around 8 years to 12 years.
A NIROC has a value of 4.08p.
Therefore the government grant has been reduced per unit of electricity produced from 16.32p to 6.52p.
A unit of electricity is around 16.96p and the export price back to the grid is around 5.1p.
The government has cited the falling cost of photovoltaic systems as the reason for the cut in the grant.
Photovoltaic systems are now around £1,800 per installed KWp.
Costs of PV systems are expected to fall by 5 to 10% a year over the next 5 years.
If you are thinking of adding a PV System to your roof then get it installed before 01 April 2015 when the changes will come into effect.
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