A feed in tariff is the rate that you get paid for electricity fed back into the electricity grid from a designated renewable energy source such as solar power.
There are feed in tariff programs throughout each state of Australia. A feed in tariff is a great way to accelerate the repayment of your solar power system and most smart home owners have begun to take advantage of this.
Queensland
Queensland’s feed in tariff is currently at 8c/kWh for all systems up to 5kW. However, customers who lodged their network applications prior to July 10th, 2012 will continue to receive the full 44c amount up till 2028. The Feed in Tariff is Net. It is paid on the power you generate (kW), less the power in use at the time (kW)
- Solar powered sites with low usage during the day will see the greatest returns
- The power you use in the evening will not affect the bonus for power exported during the day
All new solar power applicants in QLD will receive a minimum FiT of 8c/kWh with a power company top up of 6-8c – making solar still a wise decisions given rising energy costs.
New South Wales
New South Wales used to have one of the best feed in tariffs available, set at a whopping 60c/kWh on a Gross FiT scheme. Rates for the hugely popular feed in tariff program were reduced to nil for all new connections, however this rate can be negotiated with your retailer.
Victoria
New customers can apply for the feed in tariff of a minimum of 8 cents, which is available to households, community organisations and businesses who install sustainable energy systems less than 100 kilowatts in size.
If you already have a feed in tariff being credited to your power bill, you will continue to receive this rate until the end date for your scheme. Conditions apply, and you should read more about remaining eligible for your scheme on this website.
Customers accessing the Transitional Feed in Tariff (closed on 31 December 2012) and the Premium Feed in Tariff (closed on 29 December 2011) are reminded that any additional panels added to their systems after the scheme closure dates will forfeit their access to the respective scheme.
South Australia
South Australia are currently offering a feed in tariff of 16 cents p/kWh sent to the grid for customers who gain permission by SA Power Networks to install their solar PV system before September 30, 2013. Customers who purchase fter this date wont receive any feed in tariff from SA Power Networks however will be eligible to receive a minimum retailer payment from electricity retailers between 7.1c/kWh & currently 11.2c/kWh.
Read more about the South Australian Feed-In-Tariff’s Here
Solar Power Rebates
To reduce the price of solar power systems, the goverment has created Small scale Technology Certificates (STCs) which are similar to the now superseded Renewable Energy Certificates (RECs), having replaced them on 1 January 2011. These certificates reduce the cost of most solar power systems by up to 25%.
The easiest way to understand STC is to think of them as a currency where one megawatt hour (1kW x 1000 hours) of power equals one STC. Each of our solar systems has an STC value depending on how much power it generates. This value is what determines your price reduction.
The concept of STCs can be confusing to people looking into solar power, which is why at Green and Gold Solar we make it simple for you, managing all of the paperwork for you.
When you buy a solar system through us, we take into account the value of the system’s STCs and use this value to reduce the price of your system. The price that we give you, unlike other solar companies is the final price including the rebate (STCs) – making the entire process simple and stress free.
