Feed-in Tariffs (FiTs): FiTs are payments made by electricity retailers to customers who generate excess electricity from their solar power systems and feed it back into the grid. The rate at which the electricity is purchased is typically higher than the retail electricity rate. The availability and rate of FiTs vary by state and territory in Australia.

May 14, 2024by Luke0

FiTs are designed to incentivize the installation of Solar power systems and promote renewable energy generation. They provide a financial incentive for homeowners and businesses to invest in Solar energy, as they can earn money by selling their excess electricity back to the grid.

In Australia, FiTs are typically set by state and territory governments, and can vary based on factors such as the size of the Solar power system, the time of day electricity is generated, and the location of the system. Some states and territories offer a flat rate FiT, while others offer a time-of-use FiT, which varies depending on the time of day electricity is generated.

FiTs can help offset the cost of installing a Solar power system and can provide a steady source of income for system owners. They can also help reduce electricity bills and provide a financial return on investment over time.

Overall, FiTs play an important role in promoting the uptake of Solar power and supporting the transition to a clean energy future in Australia.

Share on:

Leave a Reply

Your email address will not be published.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