Feed-in Tariffs (FiTs): FiTs are a payment made by electricity retailers for excess electricity generated by solar power systems that is fed back into the grid. The rate at which the excess electricity is purchased is determined by the retailer and may vary depending on the state or territory. FiTs provide ongoing financial benefits to solar system owners by offsetting their electricity bills.

April 9, 2024by Luke0

FiTs are typically offered as a way to incentivize homeowners and businesses to invest in Solar power systems and contribute to the generation of renewable energy. The payments received through FiTs can help offset the initial cost of installing a Solar power system and provide ongoing savings on electricity bills.

In some cases, FiTs may be mandated by government regulations, while in other cases they may be voluntary programs offered by electricity retailers. The rates and terms of FiTs can vary widely, so it is important for Solar system owners to research and compare different options to ensure they are getting the best value for their excess electricity.

Overall, FiTs can be a valuable financial incentive for investing in Solar power systems and can help promote the growth of renewable energy generation in the community.

Share on:

Leave a Reply

Your email address will not be published. Required fields are marked *