FITs are one of the least understood aspects of solar investments because they can vary depending on which state you live, which energy provider you use, which system you have, what type of contract you are in and what time of day it is.
Despite this, FITs can be one of the most valuable aspects of your solar system. They can earn you money for your excess energy and reduce your electricity bill. FITs are a core part of calculating the payback period for your solar PV system. Once you have completed this payback period, the savings that you earn through your FITs go directly into your pocket.
In this eBook we take you through everything you need to know about feed-in tariffs. We look at what a feed-in tariff actually is and why governments in developing countries around the world are looking to these tariffs to shift consumer behaviour. Then we explore the two main types of FITs, single rate and time-varying tariffs. Finally we explore the different rates offered for FITs by different states around Australia. By analysing the best and worst rates available in each state we will help you become a more informed solar customer.
If you want to invest in a solar system, reduce your reliance on the grid for energy and reduce your carbon footprint, then understanding FITs is the next step. As a form of payment given to those who supply excess energy to the grid, FITs help to incentivise good consumer and commercial behaviour in terms of renewable energy. By providing financial incentives for those who produce more solar energy than they consume, FITs help to encourage markets to shift towards green energy solutions.
These two types of tariffs are the main options offered by energy providers. As the names suggest, single rate tariffs offer a set value for the electricity sent back to the grid while time-varying tariffs offers different rates for tariffs depending on whether it is during peak or off-peak times.
To learn more about these tariffs and the rates available for each, download the eBook today.
The rates for feed-in tariffs can vary dramatically depending on which state you’re in and which energy provider you choose. In New South Wales these rates vary between 6 cents per kilowatt hour (kWh) and 21 cents per kWh. Over the lifespan of your system, this choice in rate can result in a difference of thousands of dollars. For a breakdown of the best and worst FIT rates for each state, check out the eBook.