60 cents feed in tariff in VIC ending?

kbetts24
Switched-on
3 Replies 382 Views

Hi, we have an old 1.5kw inverter installed 10 years ago, and on a 60 cents feed in tariff.  There has been rumors that the government will end the high 60 cent + rebate program at some stage.  Is this true, has a date been announced?  

4 REPLIES 4
Lester
Powerhouse
1 Reply 341 Views

I googled 'victoria 60c feed in tariff ending' and this came up . . . seems to be more than a rumour and due to end 30th Nov 2024.

 

https://www.solar.vic.gov.au/what-do-after-your-feed-tariff-ends 

 

As it mentions there . . .

------

You should also research new solar systems and how they can support your energy needs. Solar technology has improved rapidly since 2009, and upgrading to a new, more efficient system could ensure that you won’t be hit with higher energy bills after the PFiT scheme ends.

New systems will:

  • be in-line with the latest technology
  • be better matched to your current energy needs
  • come with updated warranties
  • be designed to accommodate future energy needs such as being “battery ready” or able to accommodate other products such as electric vehicles or induction stovetops which you may want to purchase later.

------

 

A 10 year old 1.5kw system really is very old tech now.

Even with 60c FIT, it's unlikely to be able to compare in value with a modern system.

 

If funds allow, personally I would scrap it and get a much more advanced system of higher output panels, much better inverters, etc and again if $ allow, a battery if needed to keep energy costs under control (negate power usage from the grid at night when peak usually applies).

 

Nowadays, I feel with the usual tariffs on most power plans and very low FITs paid, you need to be considering something in the range of absolute min 6.6kw, for a very low one to two persons in the home, but preferably more towards 8kw - 12kw, again depending on your own household needs, and site considerations like shading, panel orientation, AND what sort of deals you can get for tariffs and feed in in Victoria.

 

It can be very complex choosing a solar system now, and marrying it up with a plan that best suits YOUR needs, often you should consider the plan first, to see what is available, then work back to see what solar might best suit those needs.

But it's usually best to aim a bit higher than you think is needed, purely because tariffs will only go up in years to come, supply charges too, best to have something for a minor amount more now than needing more later and having to upgrade panels / inverters.

 

Good luck with the future solar plans.

Caban
Stellar
0 Replies 351 Views

@kbetts24 

 

You definitely got a good run out of that old system! Even with a relatively low power system it would have made quite the finances look good.

 

A friend in NSW got onto the 60c deal up here. It did not last that long but he was very pleased, especially hen he found out that the way it was configured all his production was sent to the grid and then his own usage was then purchased back, so he was getting 60c for everything then was buying it back at about 25c at the time. I think that was an error but he did not complain.

 

Those plans have long gone up here, probably about 2017 or 2018 from memory.

NeilC
Powerhouse
0 Replies 338 Views

@kbetts24 

 

From the https://www.energy.vic.gov.au/households/solar-premium-feed-in-tariff web site

 

Signed-up eligible customers will receive the premium solar feed-in tariff until 1 November 2024. Once the scheme ends in 2024, retailers are no longer obliged to pass on these credits. Check the terms and conditions in your contract for a related clause.

Cheers Neil


If this comment solves your issue please solve the post, if you like this comment please take the opportunity to click the Like button below.
Lester
Powerhouse
0 Replies 309 Views

Strange, my reply not long after the OP posted, and covering this ending Nov 1st 2024 seems to have disappeared.

 

edit - post back again 🙂