Feed In Tariff Rates For Solar Panels

The rate is set per kilowatt hour kwh and the amount paid varies between retailers.

Feed in tariff rates for solar panels.

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. Find out how to apply. 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.

You ll also see any new feed in tariff on your electricity bill from 1 july 2020. They usually fall in the range of 6 15 kwh generally lower than price of retail electricity purchased from the grid. It s usually a set rate per kilowatt hour and paid as a credit on electricity bills. 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. A solar feed in tariff is a credit you receive for excess solar power that your system generates and exports back to 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. Eligible customers can be paid a solar feed in tariff with any of our electricity plans.

Important information about fits closure and future applications. Each year ipart an independent regulator in nsw sets a benchmark rate. Solar feed in tariffs fit are the payment made to solar owners for the energy they generate and send back into the grid. The tariff rate tables for all installations have been determined and published in accordance with the feed in tariffs order 2012 as amended.

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. 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. 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. Feed in tariff scheme the feed in tariffs fits scheme closed to new applications on 31 march 2019.

Instead rates are largely voluntary for electricity retailers in most states. For existing customers if solar is changing for you you ll receive a letter or email from us in june about the change.