Feed-in Tariffs (FiTs): Some state governments offer FiTs, which are payments made to solar system owners for the excess electricity they generate and feed back into the grid. The rate at which electricity is purchased through FiTs varies depending on the state and the electricity retailer.

May 16, 2024by Luke0

FiTs are designed to incentivize the adoption of renewable energy sources like Solar power by providing a financial benefit to individuals and businesses who invest in Solar panels. This can help offset the initial cost of installing a Solar system and encourage more people to go Solar.

The rates for FiTs are typically higher than the retail electricity rates, making it an attractive option for Solar system owners to generate their own electricity and sell any excess back to the grid. This can help reduce electricity bills and provide a source of income for Solar system owners.

It’s important to note that FiTs are subject to change and may vary depending on the state and the electricity retailer. It’s recommended to research and understand the FiT rates and terms before investing in a Solar system to ensure you are getting the most benefit from the program.

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