Switch to the best Feed-in Tariff.

Electricity providers offer different Feed-in tariff, so it is important to compare prices and find the one that is right for you. Save your money with us. . . . Published on 29-08-2022 | By: aykasolar

Switch to the best Feed-in Tariff.

As an electricity user, it is important to ensure you are on the best tariff for your needs. Switching to the best feed-in tariff could save you money on your annual electricity bill. Electricity providers offer different tariffs, so it is important to compare prices and find the one that is right for you. There are a number of ways to switch providers, so be sure to do your research and make the switch today!

What Is Feed-In Tariff Or FiT In Solar Energy?‚Äč

It is an amount that you get paid for exporting the self-generated solar electricity back to the grid.
The amount is decided per kilowatt-hour of the energy that you generate and export the surplus from your solar photovoltaic system. FiTs are also termed to buy back rates and can totally vary from one energy retailer to another and from one state to another.

A solar rebate is not the same as a Solar Feed-in Tariff!

Eligibility criteria for an electricity feed-in tariff:

  1. It is the most important factor that the solar panel installation must be carried by a CEC accredited retailer or a CEC accredited solar installer only!
  2. The solar PV system should be installed for a household or small business
  3. Ideally, the system should be connected to the grid within the National Energy Market (NEM).
  4. The feed-in tariff also applies to other Small-scale renewable systems like,
  • wind turbines
  • hydro systems
  • air source heat pumps and 
  • solar water heaters

Feed in tariffs: Then v/s Now - a Comparison in 2022 :

  • The generosity of a FiT has decreased over the years. It is indeed decreasing day by day as the cost of solar panel installation continues to decrease.
  • It is indeed a good sign that with the cost of solar going down, most Australians can afford a solar panel system for their home.

  • The sad part is that the buyback rate or the Feed-in tariff rate for the power generated by solar power systems is also going down drastically.
  • The cost of electricity in the wholesale market has dropped and in recent months, energy generation in Australia using the traditional method has proved to be unreliable.
  • Feed-in tariffs are like extra compensation that one can get for just sending the surplus energy back to the grid.

  • The cost of FiT which had been stable for the past few years did decline with the decline in electricity prices. 
  • 2022 has been a promising year for the solar industry, as over 3 million solar panel installations have soared to the rooftops of Australia.
  • 2010- A year where very few people went in to opt for a solar panel system in Australia. It is the year when the Feed-in tariffs flourished.
  • Around 2010, some people had to sign up for the feed-in tariff and are still availing the best cost on electricity! For example, the cost of FiT is around 60 cents for a Victorian till 2024 who signed up for the program! Similarly, a person in the ACT can end up receiving 47 cents till 2031 and so on.

Nevertheless, the solar industry is only thriving, and it is indeed a great investment to go through with the decision of having your energy generation and also make some extra earnings out of it. It is like a small passive income that will benefit you immensely.

Read More : https://www.aykasolar.com.au/best-feed-in-tariff-australia/

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