How Much Is The Feed In Tariff For Solar Panels

Solar pv panels a wind turbine.

How much is the feed in tariff for solar panels.

A fit is what retailers pay you for the extra electricity generated from your solar panels that your household doesn t immediately use and that you sell back into the grid instead. A bigger feed in tariff may also be attractive for households that are hardly home during the working day to use their solar power and consequently have most of it exported to the energy grid. Not that long ago solar energy feed in tariffs fits were being offered at what now seem like remarkably high rates. Conversely customers with small solar systems or a storage battery probably won t export much solar to the grid and should focus on cheap electricity.

The smart export guarantee tariff pays homes for generating renewable electricity including from solar panels and wind turbines. Eligible customers can be paid a solar feed in tariff with any of our electricity plans. A solar feed in tariff is a credit you receive for excess solar power 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. Because heat pumps use very little power and run off electricity you can set them to run during the day when your solar panels are generating free electricity.

The tariff rate tables for all installations have been determined and published in accordance with the feed in tariffs order 2012 as amended. If you live in rural queensland outside of south east queensland you will receive a fixed feed in tariff currently set at 7 842 cents for 2019 20. Following the closure of the feed in tariff scheme to new applicants in march 2019 the government recognised the need to pay small scale renewable energy generators for the electricity they export to the grid. It s usually a set rate per kilowatt hour and paid as a credit on electricity bills.

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. Read more about heat pumps. Find out how much money you could earn what companies pay and how much solar panels cost. Find out how to apply.

Tariff rates are set by the department for business energy and industrial strategy beis. 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.