Feed-in Tariffs (FiTs): Many states and territories offer feed-in tariffs, which allow solar system owners to earn credits for the excess electricity they feed back into the grid. The rates and eligibility criteria for FiTs vary by region.

April 8, 2024by Luke0

FiTs are typically set at a higher rate than the retail electricity price, providing an incentive for Solar system owners to generate more electricity than they need and sell it back to the grid. This can help offset the initial cost of installing a Solar system and make renewable energy more financially viable for homeowners and businesses.

To be eligible for FiTs, Solar system owners must meet certain criteria, such as using approved Solar panels and inverters, meeting installation requirements, and registering their system with their local utility company. FiTs are usually paid as a credit on the owner’s electricity bill, which can help reduce their overall energy costs.

It’s important to note that FiTs are subject to change and may be reduced or phased out over time as the cost of Solar technology decreases and renewable energy becomes more widespread. It’s always a good idea to check with your local utility company or government authority to find out the current rates and eligibility requirements for FiTs in your area.

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