As an electricity user, it is important to ensure you are on the best tariff for your needs. Switching to the best feed-in tariff could save you money on your annual electricity bill. Electricity providers offer different tariffs, so it is important to compare prices and find the one that is right for you. There are a number of ways to switch providers, so be sure to do your research and make the switch today!
Feed-In Tariff Market Plans Available In Australia:
| Electricity Provider | Tariff Type | Consumption Rate | Solar Fit |
|---|---|---|---|
Origin Energy | Flat | $0.29 Flat | $0.05 Solar Fit |
Sumo | Flat | $0.25 Flat | $0.06 Solar Fit |
Dodo | Flat | $0.27 Flat | $0.06 Solar Fit |
Red Energy | Flat | $0.27 Flat | $0.07 Solar Fit |
Energy Locals | Flat | $0.26 Flat | $0.06 – $0.11 Solar Fit |
Energy Australia | Flat | $0.30 Flat | $0.10 Solar Fit |
Alinta Energy | Flat | $0.30 Flat | $0.07 Solar Fit |
OVO Energy | Flat | $0.32 Flat | $0.05 Solar Fit |
AGL | Flat | $0.32 Flat | $0.05 – $0.10 Stepped Solar Fit |
COVAU Energy | Flat | $0.33 Flat | $0.06 Solar Fit |
Origin Energy | TOU | $0.39 Peak | $0.05 Solar Fit |
Alinta Energy | TOU | $0.36 Peak | $0.07 Solar Fit |
Red Energy | TOU | $0.38 Peak | $0.06 Solar Fit |
Powershop | TOU | $0.38 Peak | $0.05 Solar Fit |
1st Energy | TOU | $0.34 Peak | $0.06 Solar Fit |
Sumo | TOU | $0.32 Peak | $0.06 Solar Fit |
Simply Energy | TOU | $0.39 Peak | $0.08 Solar Fit |
Dodo | TOU | $0.33 Peak | $0.06 Solar Fit |
AGL | TOU | $0.42 Peak | $0.05 -$0.10 Stepped Solar Fit |
Covau Energy | TOU | $0.40 Peak | $0.06 Solar Fit |
Kogan Energy | TOU | $0.30 Peak | $0.00 Solar Fit |
Electricity in a box | TOU | $0.35 Peak | $0.00 Solar Fit |
GloBird Energy | TOU | $0.64 Peak | $0.20 Solar Fit |
What Is Feed-In Tariff Or FiT In Solar Energy?
It is an amount that you get paid for exporting the self-generated solar electricity back to the grid.
The amount is decided per kilowatt-hour of the energy that you generate and export the surplus from your solar photovoltaic system. FiTs are also termed to buy back rates and can totally vary from one energy retailer to another and from one state to another.
A solar rebate is not the same as a Solar Feed-in Tariff!
Eligibility criteria for an electricity feed-in tariff:
- It is the most important factor that the solar panel installation must be carried by a CEC accredited retailer or a CEC accredited solar installer only!
- The solar PV system should be installed for a household or small business
- Ideally, the system should be connected to the grid within the National Energy Market (NEM).
- The feed-in tariff also applies to other Small-scale renewable systems like,
- wind turbines
- hydro systems
- air source heat pumps and
- solar water heaters
Feed in tariffs: Then v/s Now - a Comparison in 2024 :
- The generosity of a FiT has decreased over the years. It is indeed decreasing day by day as the cost of solar panel installation continues to decrease.
- It is indeed a good sign that with the cost of solar going down, most Australians can afford a solar panel system for their home.
- The sad part is that the buyback rate or the Feed-in tariff rate for the power generated by solar power systems is also going down drastically.
- The cost of electricity in the wholesale market has dropped and in recent months, energy generation in Australia using the traditional method has proved to be unreliable.
- Feed-in tariffs are like extra compensation that one can get for just sending the surplus energy back to the grid.
- The cost of FiT which had been stable for the past few years did decline with the decline in electricity prices.
- 2022 has been a promising year for the solar industry, as over 3 million solar panel installations have soared to the rooftops of Australia.
- 2010- A year where very few people went in to opt for a solar panel system in Australia. It is the year when the Feed-in tariffs flourished.
- Around 2010, some people had to sign up for the feed-in tariff and are still availing the best cost on electricity! For example, the cost of FiT is around 60 cents for a Victorian till 2024 who signed up for the program! Similarly, a person in the ACT can end up receiving 47 cents till 2031 and so on.
How to get a Feed In Tariff?
A solar panel system installed on your rooftop or your premises is enough and is generating enough power to sustain you. Fixing a monitor to your solar panel system has shown some extra generation of energy that you are not consuming. Then, you do not waste the energy you are generating. You must make sure to send them back to the grid, where you get attractive cash backs on such green-energy generation.
A solar system with a battery is also eligible for a Fit! You should make sure to investigate the matter with your solar panel installer. The intriguing fact about the Feed-in tariff is that it is very narrow and depends on the place, the government and several other factors.
Make sure to read further on how much you can gain using a Feed-in tariff in your area.
Make sure to compare well in advance, like who is providing you with the best deals! There are immense benefits to a solar panel system, and Feed-in Tariff is one among them. It is a way to amp up your investment a notch further when going GREEN!
Are You Getting The Best Deals With a Solar Feed-In Tariff?
Check the energy bill that you receive. Even though there will be variation, the feed-in tariff can range from as little as 5c to 20c! How do you know if you are indeed harvesting the best deals? Make sure to compare what your energy retailer has got to offer with other retailers.
The Feed-in tariff is always set by the government. For example, the Victorian government is set by the ESC. I would suggest that the best possible action is to approach a CEC-accredited solar installer or retailer. Before that,
- Contact your solar installer and ask them if you have a buyback option to get a Feed-in tariff and explore the cost. If you are a solar orphan, we are here to help.
- Always question your heart out! Yes, it is necessary to have complete information about what are your takeaways when going green. Ask the energy provider if they have a buyback feature.
- Before you apply, make sure to tick out the necessary conditions for straining the rebate and feed-in tariff.
If all these aspects seem like too much work, just approach a verified and certified solar system installer!
Conclusion:
It is indeed true that the cost of the Feed-in Tariff is decreasing day by day, and we at AYKA Solar have a fool-proof plan for you to always get the best returns.
A Solar panel installation is an art, and only an expert solar installer can help you in reaping the benefits of harnessing the power of the sun to the fullest.
The right instalment will get you great efficiency to kick-start your solar journey and an add-on return with the best feed-in rate.
Schedule your FREE call and don’t miss out on the opportunity knocking at your door!
