What is the current feed-in tariff in Victoria?
2.5 cents per kilowatt hour
It is currently set at 2.5 cents per kilowatt hour (c/kWh) by the Victorian government.
Which electricity company has the best feed-in tariff in Victoria?
What retailer has the best solar feed-in tariff in VIC? At the time of writing (November 2021), Dodo has the best solar feed-in tariff in VIC, whereby the maximum a customer can get is 12 cents per kilowatt hour (c/kWh). . They are followed by 1st Energy in second place with an offer of 11.7 c/kWh.
What is the current solar feed-in tariff?
In NSW, electricity retailers are not required to set a feed-in tariff within IPART’s benchmark range, however we are offering our customers a feed-in tariff that is 38% higher than IPART’s benchmark rate. The benchmark rate is 5.5c per kWh max and our FiT is 7.6c per kWh.
Are feed-in tariffs still available?
The Feed-in Tariff scheme closed to new applications on 31 March 2019. Under the Feed-in Tariff scheme (FITs), householders receive payments for the electricity generated by eligible installed systems like solar PV, wind, hydro turbines, or micro CHP.
Who is offering best solar feed-in tariff?
Red Energy has the best solar feed-in tariff in NSW, where eligible customers on a single rate tariff can get 18 cents per kilowatt hour (c/kWh) for feeding electricity into the grid. Discover Energy also has one of the highest feed-in tariff rates at 16c/kWh, followed by Powershop with 13c/kWh.
Why are solar feed-in tariffs dropping?
Most commonly, the explanation for falling feed-in tariffs is that household solar power has become less valuable as more of it floods the market. It’s a simple case of supply and demand.
How are feed-in tariffs calculated?
A solar feed-in tariff is a credit you receive for excess solar energy that your system generates and exports back to the grid. Feed-in tariffs are typically between 9 – 15c per kilowatt-hour (kWh) but the rates vary in each state and are ultimately determined by your electricity retailer.
What happens when my feed-in tariff ends?
This means that when current feed in tariff legislation ends (in April 2019) there will be no replacement. Existing feed in tariffs for already-built renewable energy installations are not affected.
What happens to my feed-in tariff if I change supplier?
Because Feed In Tariff rates are set by Ofgem, they will not be affected by switching supplier.
Can you negotiate solar feed-in tariff?
When your contract is about to expire, shop around to find the best solar feed-in tariff and purchase rates. If you have been a loyal customer for some time, your retailer may be willing to provide a loyalty discount or negotiate a better deal.
Is it worth getting solar panels in Victoria?
The average electricity cost in Victoria is 23.272c/kWh. So if you’re generating 18kWh of electricity each day, you’d save around $125 per month, or over $1,500 each year with solar. In other words, yes: it’s definitely worth it to install solar panels in your Melbourne home in 2020.