Feed-in Tariffs (FiTs): Many states and territories in Australia offer feed-in tariffs, which allow solar system owners to sell excess electricity generated by their solar panels back to the grid. The rates and eligibility criteria for FiTs vary by state.

April 3, 2024by Luke0

Here are some key points to know about Feed-in Tariffs in Australia:

1. Rates: The rate at which Solar system owners are paid for the excess electricity they feed back into the grid varies by state and territory. Rates are typically based on a set price per kilowatt-hour (kWh) of electricity generated.

2. Eligibility: To be eligible for a FiT, Solar system owners must meet certain criteria set by their state or territory government. This may include having a system that meets certain technical standards, being connected to the grid, and complying with any relevant regulations.

3. Payment: FiT payments are typically made by the electricity retailer to the Solar system owner either as a credit on their electricity bill or as a separate payment. The frequency of payments can vary, with some retailers offering quarterly or annual payments.

4. Impact on electricity bills: FiTs can help Solar system owners offset the cost of their electricity bills by reducing their reliance on grid-supplied electricity. In some cases, Solar system owners may even be able to earn a small income from their FiT payments.

5. Changes to FiT rates: FiT rates are subject to change, as they are often set by government authorities or electricity retailers. It’s important for Solar system owners to stay informed about any changes to FiT rates in their area.

Overall, Feed-in Tariffs can provide an incentive for Solar system owners to generate clean energy and contribute to reducing carbon emissions. They can also help to make Solar energy more financially viable for households and businesses.

Share on:

Leave a Reply

Your email address will not be published.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