Bill Shock Looms As Solar Feed In Tariffs Roll Back
solar-panels-and-moneyWell it had to happen and it is. If you live in NSW, Victoria or South Australia, some of you will be effected by the F.I.T. roll backs that began on September 1, 2016. Feed-in tariffs are ending for over 275,000 solar households in NSW, SA and Vic between September 2016 and January 2017.

According the ABC News website; “More than 275,000 households will be affected when the tariffs are unwound from September to January in New South Wales, South Australia and Victoria”. Hardest hit by the first wave of roll backs will be NSW.

In NSW, the tariff will be wound back from 60 cents for all solar generation to 5.5-7.2 cents per kilowatt hour. In Victoria, consumers who were paid 25 cents per kilowatt hour for excess solar fed into the grid will have that reduced to 5 cents, and in South Australia the 16-cent tariff will fall to 6.8 cents.

Information courtesy of the ABC News website.

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The following schemes are not affected at this time:

(1) The South Australian 44c Solar Feed-in Scheme. Open to a range of customers who installed solar from 31 August 2010 and 30 September 2011.This scheme does not expire until 30 June 2028.

(2) The Victorian Premium Feed-in Tariff. Open to customers who installed solar between 1 November 2009 and late 2011. This scheme expires on 1 November 2024

If you aren’t sure if you are affected, the best thing to do is to call your electricity retailer and ask if you’re on a premium feed-in tariff which is ending this year.

Steps To Making The Most Of Your Solar

(1) You can limit the financial losses to some extent by maximizing the production of your solar system: You need to reverse the thinking you had where you left as much as possible off during the day to maximize the solar credit production. However if your Feed In Tariff rate drops to 5 – 7.2 cents per KwHr exported, you’re better off doing as much as you can that uses electricity during the daylight hours. This way your solar system is running (most of and maybe all of) your appliances meaning you don’t need to buy power from the grid at much higher prices.

(2) Get the right meter (NSW only): You should move to “net” metering. This will probably be a smart meter, giving you more information and options. Some network companies may offer to rewire your existing meter at low cost, but in the long run you may be better off with a new smart meter. Some retailers are offering free or cheap smart meters, but read the fine print on the contract.

(3) Get the best electricity deal: Some retailers are improving their offers for solar energy exported to the grid, so shop around. But also think about your total annual bill, including the fixed charges, energy rate, discounts and tariff type. Take your time finding the best deal and always make sure you know what you are signing up for.

We recommend you use the Australian Government Energy Comparison WebsiteEnergy Made Easy

I hope this information is useful to you.

Regards,
Phil.

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