Another Haircut For Victoria’s Solar Feed-In Tariff

Feed-In Tariff vic

Self-consumption of solar energy will be even more appealing in Victoria as the state's minimal solar feed-in-tariff victoria is coming into effect on July 1.

The Victoria's Essential Services Commission published its final decision regarding the minimum feed-in rates that electricity retailers must pay starting on July 1st, 2022. The feed-in minimum single rate price in Victoria from 2022 through 2023 is 5.2 cents per Kilowatt hour lower than 6.7 cents in 2021/22. There will also be a deduction in the minimum rate for time-varying rates.

The prices for wholesale power in the daytime in Victoria are at their lowest in several years due to renewable energy such as rooftop solar panels - and the decrease in wholesale electricity prices are the primary reason for the decrease, says the ESC.

Solar Energy Self-Consumption And Comparing Retailers

It's been appointed for a long time that the value of solar panels is to maximize self-consumption. The price charged for grid electricity usage is significantly more than the amount received to export surplus solar energy.

Electricity retailers may and frequently do provide more. For example, the minimum price currently is 6.7 cents; however, some retailers offer as high as 11.7c.

A higher feed-in rate is just one aspect of what constitutes a great solar plan. Solar Quotes can alleviate some of the stress and frustration from finding the right electricity plan by using our comparison tool for electricity retailers.

Solar Is Still A Very Good Value For Victoria

If you're a Victorian looking to install solar and the news about the forthcoming feed-in tariff cut may be awkward, bear in mind that the technology to cut bills remains a good investment. Victorians also enjoy a significant benefit that isn't available everywhere else in Australia.

Alongside in addition to the "solar rebate" (actually an upfront subsidy) available across the country, There's also another option: the Victorian solar rebate, which is currently offering a rebate of up to $1400.

Utilizing SQ's solar calculator, the feed-in tariff of 5 cents (so less than the current standard), as well as the VIC rebate included, it is clear that the solar installers Melbourne could payback within six years. Increase self-consumption, and the time could be drastically reduced.

For those who are looking to select the right installer is a lot of reliable solar installers in Melbourne and throughout the country to choose from.

The Right Time to Buy A Battery for Home?

For those who already own solar, who are thinking of thinking about a battery for their home purchase in order to extract more value out of their solar systems. Solar rebate Victoria also offers a generous rebate for batteries, up to $3500. However, there's a caveat: that you haven't been a recipient of the rebate as an owner-occupier in the Solar Homes Program, and numerous Victorians already have.

Prices for solar batteries have some way to fall before they're within the price range of many households and without the benefit of rebates. Therefore, increasing consumption on your own and selecting a quality Solar plan will be the ideal method to maximize the value.

You could use the calculator mentioned above to determine whether a battery would make financial sense for you in the current situation.

What about VPPs?

The term "virtual power plant" refers to a Virtual Power Plant (VPP) as a system in which batteries located at different locations are virtually consolidated into the power source that a central administrator manages. The operator can charge the batteries at times of low demand for electricity and abundant solar energy and then discharge them to the grid when the demand is high.

There are a variety of Virtual Power Plant programs have been launched in Victoria with deals that include lower batteries. Solar Victoria recently also began offering a 600-dollar boost in your Victorian battery rebate to those who are eligible to promote greater VPP adoption. This is only applicable only to VPP initiatives Solar Victoria has approved under its pilot program.

Although a battery that is less expensive may look appealing, however, it's important to know the basics of Virtual Power Plants and the advantages and cons of joining a VPP before signing the to sign the dotted line. Further, if you're interested in storage for residential use, look over purchasing and owning the solar battery.

If you have any queries related to solar, feel free to contact solar-secure!

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Pub: 24 Mar 2022 16:05 UTC
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