Feed In Tariff Rates For Solar Panels

A feed in tariff is a solar incentive that pays owners of distributed energy systems like solar a certain amount per unit of electricity sent to the grid.

Feed in tariff rates for solar panels.

On 1 july 2020 we re changing our act standard retailer fit rate from 8c kwh to 7c kwh gst inclusive if any. 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. They are often fixed price incentives that are locked in over a contract period of 10 to 20 years providing property owners with distributed generation a long term stable incentive. Find out how to apply.

Tariff rates are set by the department for business energy and industrial strategy beis. For 2020 21 it is 6 0 to 7 3 cents per kwh. The rate is set per kilowatt hour kwh and the amount paid varies between retailers. Feed in tariff scheme the feed in tariffs fits scheme closed to new applications on 31 march 2019.

A feed in tariff fit is a credit customers receive for any unused electricity that their solar power system sends back to the power grid. A solar feed in tariff is a payment you get for the excess electricity produced by your system which is fed back into the grid. State manded feed in tariff incentives are no longer available to new solar customers in almost all of australia s states and territories. They usually fall in the range of 6 15 kwh generally lower than price of retail electricity purchased from the grid.

A feed in tariff is a payment you can get if you generate your own electricity eg with solar panels or a wind turbine and you can also sell energy back to the grid. It s usually a set rate per kilowatt hour and paid as a credit on electricity bills. Important information about fits closure and future applications. Instead rates are largely voluntary for electricity retailers in most states.

You ll also see any new feed in tariff on your electricity bill from 1 july 2020. A solar feed in tariff is a credit you receive for excess solar power that your system generates and exports back to the grid. Like a tiny power station any extra energy generated through your solar panels that you don t use can be sold back into the grid at the feed in tariff rate. Under fits householders receive payments for the electricity generated by eligible installed systems like solar pv wind or hydro turbines or micro chp.

For existing customers if solar is changing for you you ll receive a letter or email from us in june about the change. Each year ipart an independent regulator in nsw sets a benchmark rate.