Feed-in Tariffs (FiTs): FiTs are payments made to solar panel system owners for the excess electricity they generate and feed back into the grid. The rate at which electricity is purchased by the grid varies between states and territories in Australia. FiTs can provide ongoing financial benefits to solar system owners by offsetting their electricity bills.

March 10, 2024by Luke0

FiTs are typically set at a higher rate than the retail electricity price, encouraging homeowners to invest in Solar panels and generate renewable energy. This not only helps reduce greenhouse gas emissions but also helps to stabilize the electricity grid by providing additional sources of electricity during peak demand periods.

FiTs can vary depending on factors such as the size of the Solar system, the location of the system, and the time of day the electricity is generated. Some states and territories offer a flat rate FiT, while others offer a time-of-use FiT which varies throughout the day.

It’s important for Solar system owners to understand the FiT rates in their area and how they can maximize the benefits of feeding excess electricity back into the grid. By taking advantage of FiTs, homeowners can not only reduce their electricity bills but also contribute to a more sustainable energy future.

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