Solar FiT | BY Vimal
Hunting for a better solar feed-in tariff because your current rate just isn’t cutting it? Or are you looking at going solar and in search of what FiT’s are on offer?
With more than 21% of Australian households having a Solar PV system installed on their roof, there is no better time to go solar!
The steady increase of electricity prices in ACT over the past few years is a great reason to consider going solar. And an excellent solar FiT rate helps you get the most out of your solar power system.
Searching for the solar feed-in tariffs that energy providers in ACT have to offer? Call Electricity Monster on 1300 232 848! Our team of energy experts are here to give you Fast, Free and Fair advice on solar feed-in tariffs in Canberra.
In the table below, we’ve compiled a list of all the energy providers for residential customers available in Canberra, ACT. We have ranked the electricity retailers based on the alphabetical order.
Solar Feed-in Tariff – ACT
|Retailer||Minimum Feed-in Tariff (kWh)||Maximum Feed-in Tariff (kWh)|
What is a Solar Feed-in Tariff (FiT)?
A FiT is a credit you receive from your selected electricity retailer for the excess energy produced by your solar photovoltaic (PV) system.
Feed-in tariffs typically charge a rate of a few cents per kilowatt hours (kWh) of excess energy that gets exported back into the grid.
Energy providers pay solar owners the feed-in tariff through a credit reduction on their electricity bill.
The solar energy produced by your solar PV system must be consumed instantly. Otherwise, any excess energy will feed into the grid for a FiT unless you have a solar battery installed.
Solar feed-in tariffs are a great way for solar owners to maximise the benefits and savings they were promised during their initial solar power system purchase. On the other hand, they’re a good incentive for Australians who are contemplating going solar.
So how does it work?
The sun emits solar rays. The photovoltaic (PV) cells within your solar panels absorb these rays and produce Direct Current (DC) electricity.
Direct current (DC) electricity is a pure form, which needs to be converted into Alternating Current (AC) to be consumed by your appliances. Your solar inverter takes the DC electricity and converts it into Alternating Current (AC) electricity.
The switchboard then takes the electricity from the inverter and distributes it to appliances within your household.
Additionally, your switchboard directs the excess energy produced by your solar power system back to the energy grid. Your smart (bi-directional) meter plays its part by measuring the electricity exported to and from the electricity grid.
Important factors to consider
Feed-in rates are important. But so are electricity rates.
You may encounter an energy provider with a plan that offers a fantastic solar FiT. After several months, you may realise that you’re paying more for your electricity. But why?
Energy providers may offer a compelling solar FiT rate, only to mask a high electricity rate. It’s in your best interest to check both rates before picking a plan.
It depends on your electricity consumption!
A household that exports the majority of energy produced by their solar power system may be better off with a high feed-in tariff rate. But a sharper energy rate and an adequate solar FiT rate may be more beneficial for a household that purchases more energy than what their solar PV system produces.
Still not sure how much energy you consume? Use our 100% Free comparison service! Talk to us on 1300 232 848, and we’ll help you find the rate that suits you! Don’t wait! Call us now!
Best Feed-In Tariff – ACT
In the table below, we’ve compiled a list of the top 4 solar FiT rates available in ACT. We have analysed and ranked the energy retailers based on their Maximum Feed-in Tariff.
|Retailer||Minimum Feed-in Tariff (kWh)||Maximum Feed-in Tariff (kWh)|
Who’s here once again? It’s none other than Social Energy with a stunning 40 cents per kWh feed-in tariff!
But you need to have a compatible solar and home battery system with Social Energy to be eligible for this rate.
Also, this rate only applies to the first 300kWh of each quarter. After which, a standard rate of 9c/kWh applies until it reaches the next quarter.
By now we should be familiar with this electricity retailer popping up all over the show.
Origin Energy is 1 of the Big 3 energy providers in Australia. Origin Energy offers a very effective solar feed-in tariff rate of 20 cents per kilowatt hour (kWh).
Unfortunately, this stellar rate only applies to customers who purchase and install their solar PV system through Origin Energy.
Hang on! Current solar owners that are looking to jump ship to Origin Energy still can. With the exception that they’ll only be able to access a solar FiT rate of 11 cents per kWh.
Here’s an electricity retailer we know lots about. Did I mention that they’re one of our partnered providers?
ActewAGL is one of the biggest retailers for the Canberra region. ActewAGL offers a stunning FiT rate of 12 cents per kilowatt hours (kWh).
But, this rate only applies to the first 8 kWh of each day. After which, the solar FiT rate reverts to 7 cents per kWh.
Minimum Feed-in Tariff (FiT) – What are those?
Our table above is based on the maximum FiT offered by every energy retailer. So you may be wondering what a minimum FiT is?
A minimum feed-in tariff is the lowest rate energy providers offer for the excess energy your solar PV system transports back to the grid.
But ACT’s government ended the solar buyback incentive, meaning that Canberra has no preset minimum feed-in tariff rate.
Therefore, solar customers must be aware of this when looking at a plan’s FiT rate to avoid committing to a bad deal.
Our thoughts on Solar Feed-in Tariffs!
Wow! Well here’s all the need-to-know info on solar feed-in tariffs in ACT.
Now that you’ve got all the available solar feed-in tariffs and the top 4 feed-in rates in Canberra, what’s your next step?
If your household buys more energy than your solar PV system produces, you may be better off with a sharper energy rate and a modest solar FiT rate.
But for a household that exports heaps of electricity to the grid, then a high solar FiT may be the way to go.
However, if you’re still unsure which is the best rate for you, use our 100% free comparison service!
What are you waiting for? Our 100% free comparison service is here to help you find a better rate for your solar power system! Pick up that phone and dial us on 1300 232 848 for a friendly chat with one of our energy experts today!
Important points to note are:
- Feed-in tariffs are for residential customers on a single rate tariff in Canberra on the Evoenergy Network. *Social Energy’s high feed-in tariff is available if a customer’s solar and battery system is compatible with the retailers’ system. Also, the high feed-in rate is capped at 300kWh each quarter. *Origin Energy’s higher feed-in tariff only available when a customer purchases a solar system through the associated energy retailer. *ActewAGL’s higher feed-in tariff only applies to the first 8kWh of each day.
- Some plans may require you to meet certain conditions before a discount becomes available to you. Check the energy provider’s plan information for details of all possible discounts that may apply and any conditions that need to be met to be eligible for these discounts. Consider the provider’s detailed product and pricing information before making a decision to take out a new plan or switch electricity providers.
- All FIT information is based on the Price Fact Sheets taken from the respective retailers’ websites.
- The information in this blog cannot substitute for legal advice. No financial decisions should be made based on information from this blog.
- This data is accurate as of 14/01/2021