Solar Panel Grants (NIROC) 2015/2016 Income Rates

Solar panel grant rates 2016

Solar panel grant rates 2016

If you have or thinking about, a renewable energy system for your home that generates electricity you can benefit from the Northern Ireland Renewables Obligation Certificates (NIROC).Changes have been made to the the grant in which installations after the 30th of September will now receive 3 NIROC'S at a rate of £0.1224.

NIROC Earnings 2015 - 2016

Below are the NIROC rates for 2015/2016 and typical income earnings:

 Domestic Agriculture Commercial 
Installation4.0kWp
(16 NO. 250W Panels)
12.0kWp
(48 No. 250W Panels)
50.0kWp
(200 No. 250W Panels)
Indicative Cost - Design, Installation & Commission£5,950 inc VAT£12,750 inc VAT£52,000
Expected Yield3,385 units10,140 units42,300 units
Annual Subsidy
(4x NIROCs) guaranteed for 20 years
3.385 x £0.1224=£41510,140 x £0.1224=£1,22442,300 x £0.1224=£5,288
Electricity savings
(80% of generated solar electricity consumed)
2,708 x £0.17=£4608,112 x £0.17=£1,38038,070 x £0.17=£6,472
Export income + savings on oil
(20% of generated solar electricity exported)

1523 x £0.051=£77 + £120 saving on oil

4,563 x £0.051=£233 +£150 saving on oil4,230 x £0.051=£215
Combined income & savings per year£1072£3,003£11,975
Payback period5.5 years4.25 years4 years
Return on investment18%24%24.7%
20 year returns£21,440£60,060£239,500

 

See our grant information page for more details.

If you require help or assistance regarding grant applications or taking the first step towards generating an income from generating electricity, call our team on +44(0)2877778177.

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