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Market research & Insight

September 2017

The second quarter (Q317, July-September 2017) of year eight of the FiT scheme (1 April 2017 – 31 March 2018) has now ended. Our Monthly update looks at capacity and installation developments across the three months of this quarter, and how FiT costs might be impacted.   Ofgem will send out invoices to relevant suppliers on 24th of October 2017 for the second quarterly levelisation of FiT year eight. A total of 5,849MW across 808,001 installations was accredited to the FiT scheme to 30 September 2017. In our Q317 FiT Cost Forecast, we projected that capacity by the end of Q317 would reach 5,855MW (Central Scenario). Capacity at the end of the Q317 was therefore 6MW below our Central Scenario, with 90MW was accredited in Q317, significantly down on the previous year, 18MW accredited in July 2017, 23MW in August 2017, and 49MW in September 2017. Accredited capacity in July, August and September represent the lowest for those respective months since 2010. 5,662 installations were accredited in Q317, 1,567 accredited in July 2017, 1,942 accredited in August 2017, and 2,153 were accredited in September 2017, the fewest for those respective months since the scheme began. New installations have continued at a slowed pace on previous years, largely due to the implementation of lower tariff rates and deployment caps which came into effect on 8 February 2016.  441.3 hours of sunshine have been recorded in Q3 0.8% below the long-term average of 444.7 hours Our Central Scenario of FiT costs is £7.37/MWh for Q317 levelisation. Our Low Scenario of FiT costs for Q317 is £6.92/MWh, ...

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