Feed-in tariffs are a way to incentivize the adoption of Solar energy by providing financial benefits to Solar system owners for their contribution to the grid. The rates of FiTs typically depend on factors such as the size of the system, the time of day the electricity is generated, and the location of the system.
Some states and territories in Australia have mandated minimum feed-in tariff rates, while others allow electricity retailers to set their own rates. It’s important for Solar system owners to research and compare the FiTs offered by different retailers to ensure they are getting the best deal for the excess electricity they generate.
In addition to earning credits for excess electricity fed back into the grid, feed-in tariffs can also help reduce electricity bills for Solar system owners by offsetting the cost of purchasing electricity from the grid during times when their Solar panels are not generating enough power.
Overall, feed-in tariffs are a valuable incentive for Solar system owners to maximize their energy generation and contribute to a more sustainable energy future for Australia.
