Great result. What size is your array?
How does the tax exemption work with the FIT? From 2024 it is €400, does that apply to the credit to your account even if they never give you a cheque because your usage is higher? I.e. if my FIT next year is €1000, and my usage comes to €3000 so I pay my provider €2000. Do I have to pay tax on the €600?
Figures are for an example, not real, I understand from reading this thread that the €400 is per person.
Yes, you pay tax on the €600.
I would have 💭 ght that it was in the 1000, as that is what he exported and received a payment or benefit from ?
Roughly how long does it take the ESB I confirm receipt of the NC6 form, and how long after that shopping it take to start earning FIT?
I don't recall exactly but weeks rather than months.
€1000 minus €400 tax free allowance.
Ah, sorry post Christmas fuzzy head!
Revenue issued updated guidance today.
the relevant paragraph...
There is no requirement for individuals to include the exempt profits in an income tax return. However, where the annual profit is in excess of the exempt amount, that excess must be declared and will be subject to income tax, USC and PRSI in the usual manner.
So two on our bill so €400 each, if we made FIT of say €850, I would have zero for her and €450 for me with €50 subject to taxes, that's my take
Unless you could add a third person to the bill. 😁
...it was an example.....
I would suggest it's 25 each subject to taxes.
Unless you have a third person at the address to add to the bill :-)
With discounts being announced. Do we know of upcoming changes in the FIT from any of the providers?
Not yet.
No doubt it'll be reduced but here's hoping
Hey all. Forgive me for asking this question here as I've more or less asked it in the switching electricity suppliers thread. I was recommended a site (not bonkers) there but couldn't understand it.
I noticed bonkers.ie doesn't take in the feed in tariff into account when suggesting who to switch to.
I'm with Electric Ireland and my contract is up. I have 18PV panels with no battery. I generate 7.2Mwh, I use 4.4Mwh a year of which 1.4Mwh comes from the grid. I pay 35c for unit and feed to grid at 21c I'm in credit/profit for the year by a €150 give or take, €450 if you include the government payments.
Has anyone with/had similar fit and unit purchase figures got any suggestions who to switch to?
Thanks!
Also interested in finding out the answer to this as my contract expired the 21st. Would I be correct in saying once the N6 form has been completed once that you don't have to do it every time you switch energy provider thereafter?
Depends on if you are rural or urban. I can only comment on rural. My current spreadsheet suggests that Energia Smart is the best account for rural use.
To take into account FIT it's either a spreadsheet or energypal https://energypal.ie/
Avoid Bonkers
Might want to update that spreadsheet with pinergy smart ev if adding in plans like Energia smart plan. 5c ev rate not 30c for pinergy. 274 not 382 for the standing charge on that one too. Not sure on the others
There is also a free open source app on the Android Play store. Usability needs work, but it is quite functional. If you do the leg work on price plans, they are easily shared.
If you have a years worth of smart meter data, pretty straight forward
I cannot make head nor tail of the Pinergy site. I don't think all the plans are available for rural customers (of which I am) so I don't pay much attention to Pinergy's offerings. I feel they cater more for urban customers.
All plans are available for urban or rural.
Possibly just a change in standing charge.
Rural myself and cheapest standing charge that was around when I switched.
I just caved and kept my Electric Ireland account on a new deal. Gave up on the research and stayed on like the lazy whimp that I am 😊.
21c FIT still (for now) and 30.8c unit cost starting in March.
I'm rural, no problems signing to Pinergy. Their customer service are fairly incompetent but provided you keep at them, the prices are hard to top.
Just switched to them and data starting showing up on app today.
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