Solar FiT | BY Vimal
Searching for the best solar feed-in tariffs the NSW energy market has to offer? Or are you looking to go solar?
Solar power is paving the way for renewable energy in Australia. Investing in a solar system is no small matter, but the amazing benefits are worth it in the long run.
Feed-in tariffs are a good way to maximise the return on your solar system investment. So it’s crucial to get a solar plan with a good feed-in tariff rate to suit your electricity needs.
On the hunt for the best solar feed-in tariff? 1300 232 848 is the number to dial! Give Electricity Monster a call to have a chat with our friendly team of energy specialists who’ll help you get a better feed-in tariff rate for your solar needs!
In the table below, we’ve compiled a list of all the energy providers for residential customers available in New South Wales. We have ranked the electricity retailers based on the alphabetical order.
Solar Feed-in Tariff – NSW
|Retailer||Minimum Feed-in Tariff (kWh)||Maximum Feed-in Tariff (kWh)|
|Bright Spark Power||8c||8c|
|Electricity In A Box||7c||7c|
|Future X Power||4c||4c|
|On by Energy Australia||0c||0c|
Solar Feed-In Tariffs
A solar feed-in tariff is a rate that energy providers pay you for the excess energy produced by your solar system.
Doesn’t sound too bad right?
The way solar power works is that it’s an energy source that needs to be used instantly.
The excess electricity produced gets shared back into the grid for a feed-in tariff. You receive this in the form of a credit payment on your electricity bill.
The solar feed-in tariff is a rate that pays out a few cents per kilowatt hour of electricity.
How does it work?
So how does the sun power your home?
Solar panels absorb the sun’s solar rays using their photovoltaic cells (PV) and produce electricity via the photovoltaic effect.
The generated electricity is Direct Current (DC) and is not a usable form for your household’s electrical appliances.
Here’s where your solar inverter comes in handy! Your solar inverter converts the Direct Current electricity (DC) into Alternating Current electricity (AC) which is suitable for your home appliances.
The switchboard provides the flow of electricity to the appliances that require energy. Additionally, the switchboard also directs any unused energy your solar system produces back into the grid, earning you a feed-in credit on your electricity bill in the process.
This function is facilitated by installing a smart (bi-directional) meter which will simultaneously count the energy exported to and consumed from the grid.
Important things to consider!
If you were to choose a solar energy plan; Would you pick the one with a high feed-in tariff or a low feed-in tariff? The higher one right?
But does that necessarily guarantee you more savings? No, Not at all!
Energy retailers may offer a solar plan with a high feed-in tariff which is sure to catch your eye! But beware as some of these plans might also have high electricity usage rates.
How do you know what solar feed-in tariff maximises your Return On Investment (ROI) and suits your electrical needs?
It depends on how you use your energy!
A solar plan with a higher feed-in tariff may be more beneficial to a household that exports a lot of excess energy. But for a household that heavily relies on buying energy from the grid, a sharper electricity rate and a moderate solar feed-in tariff may be the answer.
Contemplating between a high feed-in tariff or sharper electricity rate? Call us today on 1300 232 848 for Fast, Free and Fair advice. What are you waiting for? We’ll help you find that electricity plan with a sweet solar FiT to get a better value out of your solar system!
Best Feed-In Tariff – NSW
In the table below, we’ve compiled a list of the top 4 feed-in tariff rates available in NSW. 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)|
40 cents Feed-in Tariff?
Social Energy is the new kid on the block and offers a smashin’ FiT rate of 40 cents per kWh.
But hang on! This tariff is only available to customers who own a smart solar and battery system compatible with Social Energy.
Also, this premium rate is only available for the first 300kWh each quarter. After which, the standard 9c/kWh feed-in tariff will apply until the coming quarter.
Solar FiT’s in their 20s?
Wow! Coming in red hot with a scorchin’ 22 cents per kWh feed-in tariff rate is Origin Energy!
But hold on! To get that rate, your solar panels must be purchased and installed by Origin Energy.
So what if you’ve already got a solar system installed but want to make the jump to Origin Energy? Well, their solar plan still gives you a reasonably competitive FiT of 12 cents per kWh based on their current offers.
Next up, is an electricity retailer that prides themself on simple plans and low prices.
Amping you up with a solar feed-in tariff of 21 cents per kWh is ReAmped Energy!
Here’s the catch! This rate only applies to the first 5 kilowatt hours per day. After which, the solar feed-in tariff rate is at 5 cents per kWh.
Still a pretty decent offer though!
Minimum Feed-in Tariff (FiT)
You must be wondering what a minimum feed-in tariff is right?
Essentially it’s the minimum rate which retailers have to offer with their electricity plans.
But the state of NSW has no preset minimum Feed-in Tariff rate. So solar customers really need to take a closer look at a plan’s feed-in tariff rate to avoid falling into a bad deal.
Solar Energy – Yea or Nah?
By now, you should have a relatively decent understanding of solar energy and the feed-in tariff rates that NSW electricity retailers have on offer.
Let’s not forget that a high solar feed-in tariff (FiT) is all well and good, but it may not necessarily give you the savings you were promised.
It’s all up to you! Choosing a plan with a solar feed-in tariff depends on how you use your electricity!
If you’re exporting enormous amounts of excess electricity to the grid, then the best option may be a plan with a higher feed-in rate. But for a household that buys more energy from the grid than it produces, a sharper energy rate and decent FiT rate may prove to be more beneficial.
Well, there you have it! You’ve got all the feed-in tariff rates available in NSW. Why not add FAST, FREE and FAIR advice to that? We’ll consider all factors and help you find a solar plan that suits your electrical needs! Call us on 1300 232 848 today!
Important points to note are:
- Feed-in tariffs are for residential customers on a single rate tariff in Sydney on the Ausgrid network. *Social Energy’s higher feed-in tariff is only available if your solar and battery system is compatible with the retailer and applies to the first 300kWh of each quarter. *Origin Energy’s higher feed-in tariff only available when a customer purchases solar system through the associated energy retailer. *ReAmped Energy’s higher feed-in tariff only applies to the first 5kWh per 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