Solar FiT | BY Vimal
Are you looking for the best solar feed-in tariff on the South East QLD energy market? Well, you’ve come to the right place!
Solar owners are always on the lookout for a sweet feed-in tariff to either maximise their return on investment or to get a cheaper electricity bill.
Australia has the highest solar energy uptake globally, with more than 21% of households installed with solar PV. To add to that, more than 2.69 million rooftop solar panel systems have been installed across Australia to date.
Want that sweet feed-in tariff (FiT) to get that solar system pumping out those savings? Look no further! Electricity Monster is here! Call us on 1300 232 848 today and we’ll help you find a solid solar feed-in rate available in QLD that suits your electricity needs!
In the table below, we’ve compiled a list of all the electricity retailers for residential customers on the Energex network available in QLD. We have ranked the electricity retailers based on the alphabetical order.
Solar Feed-in Tariff – QLD
|Retailer||Minimum Feed-In Tariff (kWh)||Maximum Feed-In Tariff (kWh)|
|Bright Spark Power||6c||8c|
|Electricity in a Box||4c||4c|
|Future X Power||4c||4c|
|Locality Planning Energy||0c||5.5c|
Solar Feed-In Tariffs – What are they?
A solar feed-in tariff (FiT) is a rate you get paid for the excess energy produced by your solar system.
Electricity retailers pay this in the form of a credit reduction on your electricity bill for the excess energy that gets fed back into the grid.
Solar energy is an energy source that requires you to use it instantly. Unless you have a solar battery, the excess energy feeds back into the shared electricity grid.
The solar feed-in tariff rate is typically charged on a few cents per kilowatt hour of generated electricity.
Electricity retailers often offer attractive solar feed-in tariff rates to entice Australians to switch providers or purchase one of their solar products.
How does it work?
Now that you know what a solar feed-in tariff is, let’s get you up to speed on just how solar rays turn into electricity.
The photovoltaic (PV) cells in your solar panels absorb the solar rays emitted by the sun. These photovoltaic cells produce Direct Current (DC) electricity through the photovoltaic effect.
The inverter converts this DC electricity into Alternating Current (AC) electricity, making it usable for your home appliances.
The switchboard allows the electricity to flow to the electrical appliances that require it. Additionally, the switchboard also directs the excess electricity produced back into the grid for a solar feed-in tariff rate.
A smart (bi-directional) meter facilitates the process while counting the energy exported to and from the electricity grid.
Important things to consider!
So what’s more important? High solar feed-in tariff rates or low electricity rates?
Electricity retailers may offer electricity plans with attractively high solar feed-in rates but could mask high electricity prices in the process. So it’s crucial to check both rates before making a decision.
Are you wondering why you’re hardly maximising your return on your solar system investment? Well, here’s a little secret.
It depends on how you use your electricity!
For a household that exports most of the solar energy their solar system produces, a high feed-in tariff may prove to be better. But for a home that buys most of the energy they use, a moderate solar FiT and a sharp electricity rate may be more beneficial.
Not sure whether you want a high solar feed-in tariff or a sharper electricity rate? Call us on 1300 232 848 to have a friendly chat with one of our energy experts, and we’ll help you find the best solar plan to suit your needs!
Best Feed-In Tariff – QLD
In the table below, we’ve compiled a list of the top 4 feed-in tariff rates available in QLD. 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)|
Social Energy is tearin’ up the QLD energy market with a stunning 40c/kWh solar feed-in tariff!
However, to access this rate, you must have a solar and battery system that works with Social Energy’s system.
Also, the 40 cents solar feed-in rate only applies to the first 300kWh per quarter. Following that, customers will get the standard 8.3c/kWh.
Guess who? It’s one of the Big 3 electricity retailers, Origin Energy.
Origin Energy leads the race with the best solar feed-in tariff rate of 18 cents per kilowatt hour (kWh).
But wait for it! This rate only applies if you purchase and install your solar panels through Origin Energy.
So what happens if you already own a solar system? Well, you can still go with Origin Energy’s solar plan, giving you a relatively decent feed-in tariff (FiT) rate of 9 cents per kWh.
Next up is an electricity retailer who’s been making a name for themselves on the Australian energy market.
ReAmped Energy has a competitive solar plan with a high feed-in tariff (FiT) rate of 17 cents per kilowatt hour. But this rate only applies for the first 5 kWh of each day.
After which, it reverts to a feed-in tariff of 5 cents per kilowatt hour (kWh).
Not a bad solar feed-in rate from ReAmped Energy!
Minimum Feed-In Tariff
So what exactly is a minimum feed-in tariff?
A minimum solar feed-in tariff is the baseline rate that electricity retailers have to offer with their energy plans.
Queenslanders who reside in the south-east region on the Energex power network do not have a minimum solar feed-in tariff that energy providers must adhere to. Therefore, customers must be extra vigilant when it comes to finding an electricity plan with a good solar feed-in rate.
Regional QLD residents, on the Ergon network, receive a fixed minimum solar feed-in tariff of 7.861 cents per kWh for the 20/21 calendar year.
Solar Energy – Where to from here?
Well, there you go! That’s all the info on solar feed-in tariffs for residential customers in QLD.
But where to now? How would you go about maximising the return on investment on your solar system?
A high solar feed-in tariff will always look very attractive, but it may not necessarily help you get the best out of your solar system.
The answer: It all depends on how you use your energy!
A higher solar FiT may suit a household that exports heaps of excess electricity produced by their solar system. But for a home that mostly buys energy from the energy grid, a sharper electricity rate and a moderate feed-in rate may be more effective.
It’s no surprise to see solar power booming in Australia and with these stellar solar FiT rates, you can see exactly why!
Want Fast, Free and Fair advice on QLD’s solar feed-in tariffs? Call us on 1300 232 848 for a friendly chat with our team of energy experts. Let’s help you find an electricity plan with a sharper solar FiT to get better value out of your solar system.
Important points to note are:
- Feed-in tariffs are for residential customers on a single rate tariff in Brisbane on the Energex 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 solar system through the associated energy retailer. *ReAmped Energy and Red Energy’s higher feed-in tariff only applies to the first 5 kWh 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