Property owners have several incentives to install solar panels, including rebates, tax incentives, and special energy retailer deals. Solar feed-in tariffs are another incentive that can provide substantial financial benefits to solar customers.
Why do electricity retailers offer feed-in tariff rates?
Feed-in tariffs are a genuine incentive in Australia, where the sun shines year-round. Electricity retailers understand the equation and are on board with innovations that improve energy efficiency and reduce energy bills. With feed-in tariffs at wholesale electricity prices, you get a rebate for solar power electricity sold back to the grid. It’s a win-win for long-term energy cost savings.
How feed-in tariffs work
Australian federal, state, and local governments provide financial incentives to meet renewable energy goals. Feed-in tariffs are a popular solar energy option in Australia, where the sun’s energy can be harnessed to power homes. Many popular energy retailers include the option for solar energy and feed-in tariffs. If your provider doesn’t cover solar, you can switch to one that does and start saving immediately on energy bills.
What to look for in a solar plan
It’s important to know that feed-in tariffs (solar bonus schemes) are only part of the equation when comparing solar energy plans. You’ll also consume electricity from the grid when your solar panels aren’t producing power, such as at night or on overcast days. Here are some solar energy contract features to consider:
Buy-back rate – How much your energy company pays for your feed-in tariffs.
kilowatt-hour – A means of measuring the price of electricity.
Fixed-rate feed-in tariffs – A dependable tariff for 24/7 use.
Variable-rate feed-in tariffs – Plan hot and sunny days to export electricity to the grid.
Solar electricity battery storage – Maximise savings by capitalising on peak energy prices.
Comparing Solar Plans
Progressive retailers in Queensland, New South Wales, Victoria, South Australia, and the ACT all offer premium feed-in tariff rates for new and established customers. A GoSwitch energy plan price comparison search is the fastest way to compare solar plans. Check the feed-in tariff rates for peak, off-peak, and shoulder rate times, and consider when you will be using more power from the grid.
Solar panel system capacity:
Check if there are size limits on the solar panel plan, as some retailers set a limited amount of power, such as less than 10kw per day. Find a suitable plan for the panels you have installed.
Daily feed-in export limits:
Some solar PV system plans have a cap on the feed-in tariffs. You may be offered 12c/kWh for the first 14kWh exported per day, but only minimum feed-in tariffs of 5c/kWh for any remaining electricity you export that day.
Time-limited feed-in tariffs:
Some solar power system plans offer higher feed-in tariffs for only a limited time, such as the first three months. After this period, the tariff may become less competitive.
Energy contract terms:
Before committing, make sure to review the agreement, including exit fees. It’s good to know you can switch energy plans with no charge and lots of money-saving opportunities.
Supply charges:
This is a fixed cost per day for electricity supply to your property. Electricity supply charges can vary markedly between Victorian, NSW, and Qld energy providers.
Fees and additional charges:
When comparing rooftop solar plans in Qld, NSW, Vic, or other Australian regions, it’s important to consider additional solar system charges. These include connection fees, administration fees, early termination fees, and GST. Understanding the fee structure of each plan is crucial for evaluating its true cost.
Fine-tuning home energy usage
You could shave hundreds of dollars off power bills annually with clean energy solar exports to the electricity grid. Excess energy is in demand with the electricity network, so it’s worth looking for an energy plan that can change with needs that can include:
- Fixed price, time-of-use, off-peak, or controlled load electricity
- Bundle electricity and gas deals
- Sign-up incentives and special offers
- No lock-in contracts or exit fees
- Smart Meter installation for a personalised electricity plan
- Renewable energy and solar feed-in tariffs
- Direct debit and other monthly billing options
- Rebates and discounts on electricity bills
Switching energy retailers with GoSwitch
GoSwitch compares the latest deals from leading Australian electricity providers and gas retailers. The GoSwitch energy retailer price comparison search engine does the math for you, so you can switch retailers with confidence from the comfort of your home. The search takes only minutes, and can be completed in three simple steps, obligation-free:
- Get started – Create an energy usage profile using your postcode.
- Compare energy deals – Use the GoSwitch energy retailer price comparison search tool.
- Set up and save – Discuss money-saving deals with a GoSwitch energy expert. The GoSwitch service is 100% free and the savings are all yours!
Solar feed-in tariff rates are a smart way to reduce energy usage and save money. If you want a better energy deal that includes solar feed-in tariffs for excess electricity, get started with GoSwitch!
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