Some states and territories have a mandated minimum FiT rate, while others allow retailers to set their own rates. In general, FiT rates are higher during peak times of Solar production (e.g. during the middle of the day) and lower during times of low Solar production (e.g. at night).
To be eligible for a FiT, you typically need to have a Solar PV system installed on your property and be connected to the grid. Some states and territories also have additional requirements, such as a maximum system size or a minimum energy efficiency rating.
FiTs can help offset the cost of installing a Solar PV system and make it more financially viable for households and businesses to invest in renewable energy. They can also help reduce electricity bills and provide a source of income for Solar PV system owners.
If you are considering installing a Solar PV system, it’s worth checking with your state or territory government to see if there are any FiTs available and what the rates and eligibility criteria are. It’s also a good idea to compare FiT rates from different retailers to ensure you are getting the best deal.
