Feed-in Tariffs (FiTs): FiTs are payments made by energy retailers to solar system owners for the excess electricity they generate and feed back into the grid. The rate of the FiT varies between states and territories in Australia and can be a fixed rate or a variable rate based on the wholesale electricity price.

May 16, 2024by Luke0

FiTs are designed to incentivize the installation of Solar systems and encourage renewable energy generation. They help offset the cost of purchasing and installing a Solar system and provide an ongoing financial benefit for Solar system owners.

In Australia, FiTs are typically paid for a certain period of time, such as 5, 10, or 20 years, depending on the state or territory. The rate of the FiT is determined by the government or energy regulator and can be adjusted periodically.

FiTs can be an important source of income for Solar system owners, especially for households or businesses that generate a significant amount of excess electricity. By receiving a payment for the electricity they generate, Solar system owners can reduce their electricity bills and potentially earn a profit from their Solar system.

Overall, FiTs play a key role in supporting the growth of renewable energy in Australia and helping to reduce greenhouse gas emissions from the electricity sector. They provide a financial incentive for Solar system owners to generate clean, renewable energy and contribute to a more sustainable energy future.

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