If you’re a Victorian homeowner with solar panels, understanding your feed-in tariff (FiT) is crucial to maximizing your savings. A feed-in tariff is the amount your energy retailer pays you for the surplus electricity your solar system exports back to the grid. This rate can vary between retailers and plans.
What Is a Solar Feed-in Tariff?
A solar feed-in tariff is a payment or credit you receive for the excess electricity your solar panels generate and send back to the grid. The rate you receive depends on your energy retailer and the specific plan you choose.
1st Energy’s Solar Feed-in Tariff Rates in Victoria
As of the latest available data, 1st Energy offers a solar feed-in tariff of 0.5 cents per kilowatt-hour (c/kWh) for their Victorian Default Offer plans. This rate is below the minimum feed-in tariff set by the Victorian Essential Services Commission, which is 3.3 c/kWh for the 2024–25 financial year. EnergyseSolar Calculator
How Much Could You Earn?
If your solar system exports 10 kWh of electricity per day, at a rate of 0.5 c/kWh, you could receive a monthly rebate of approximately $1.50. However, this is significantly lower than the potential earnings with higher feed-in tariff rates.Energyse
Comparison with Other Retailers
In Victoria, many retailers offer higher feed-in tariffs. For example, some plans provide rates up to 11.3 c/kWh, which can result in higher rebates for exported solar energy. It’s important to compare different retailers and plans to find the best deal for your situation.
Benefits of Choosing 1st Energy
- Simple Plans: 1st Energy offers straightforward pricing without complex conditions.
- No Lock-in Contracts: Enjoy flexibility without being tied to long-term commitments.
- Customer Support: Access to dedicated customer service for any inquiries or issues.
Things to Consider
- Low Feed-in Tariff: The offered rate is below the state minimum, which may not be ideal for maximizing earnings from your solar system.
- Plan Suitability: Ensure the plan aligns with your energy usage patterns and export levels.
Conclusion
While 1st Energy offers a solar feed-in tariff of 0.5 c/kWh in Victoria, it’s essential to compare this rate with other retailers to ensure you’re getting the best value for your exported solar energy. Higher feed-in tariffs can lead to greater savings and earnings from your solar investment.EnergyseEnergyse+1
If you need assistance comparing different plans or understanding how to maximize your solar savings, feel free to ask!