For your Business
Solar Feed-In Tariffs
Installing solar power is a great way of saving money on your electricity bills. By effectively having your own mini power station on your roof (and using this free power during the day), you buy less from the grid. But what about the solar energy your system generates that you don’t use at the time of generation? This can also help you save even more money, thanks to available Solar Feed-In Tariffs (FITs).
What are Solar Feed-In Tariffs?
When your commercial solar power system produces excess electricity, it doesn’t necessarily get wasted. Instead, your business can sell it back to the grid. The rate you get paid is known as a Solar Feed-In Tariff (FiT) and is calculated per kilowatt-hour (kWh). FITs appear as credits on your electricity bill.
The Federal government is still making a generous contribution towards the cost of solar energy systems. We organise your entitlement and rebate for you.
How much will you get paid for your Solar Feed-In Tariff?
While receiving a higher FiT is worth investigating, it shouldn’t be your only consideration when it comes to choosing an energy provider. You also need to weigh up:
- Electricity rates (what they charge you for the power you buy from the grid).
- Daily supply charge.
- Any terms and conditions such as ‘pay-on-time’ discounts or late payment fees that may impact your business.
What about premium Solar Feed-In Tariffs?
Many years ago, early adopters of solar technology in Australia received extremely generous FiTs. These premium or legacy rates were as high as 60c/kWh, which was totally unsustainable. While current FiTs are nowhere near as high, this doesn’t mean that solar has stopped being a great investment.
In fact, the opposite has happened. Electricity bills have continued to skyrocket, while the cost of solar panels has plummeted. The amount you save on your system plus the free energy it generates more than makes up for the reduction in FiTs.