Best Solar Feed-In Tariff VIC 2024

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Key Highlights

As more Australians transition to solar, understanding which electricity retailers offer the most competitive feed-in tariffs has become increasingly important for both solar enthusiasts and prospective solar consumers. In this article, we'll cover everything you need to know about solar feed-in tariffs and solar plans, including the top solar feed-in tariff rates, the best solar plans currently offered, how to choose a solar plan, and more. Whether you're a solar enthusiast looking to optimise your savings or a homeowner looking to make the switch, we’ve got you covered.

  • Comparing solar feed-in tariffs is important for homeowners and businesses looking to maximise the financial benefits of their solar energy investments.
  • Some of the top solar feed-in tariff providers in Victoria for 2024 include Origin Energy, AGL, and EnergyAustralia.
  • When choosing a solar plan, it’s important to consider factors such as energy rates, solar feed-in tariff (FiT) rates, system eligibility (and size limits), and potential rebates for which you may be eligible.
  • If you’re in the market for a new solar plan or want a higher solar feed-in tariff, contact Electricity Monster. Our solar experts can do a bill-to-bill comparison and help you choose a plan that’s right for you. We’ll also complete a serviceability check on your property to determine the exact solar feed-in tariff rates available in your area. 

Best Solar Feed-in Tariffs VIC 2024

The table below lists the highest solar feed-in tariff rates in VIC, from highest to lowest. If you're looking to compare electricity plans or need a solution to lower your high power bills, call us today. We provide a variety of solar solutions tailored to your needs and budget.

RetailerMinimum FIT (c/kWh)Maximum FIT (c/kWh)
Energy Australia4.9012.00
ENGIE5.4011.00
Origin Energy4.9010.00
AGL4.9010.00
1st Energy4.909.90
Circular Energy7.007.00
Arcline by RACV4.906.00
Red Energy4.905.50
Lumo Energy5.405.50
Momentum Energy5.405.40
Diamond Energy5.205.20
Powershop5.205.20
OVO Energy4.905.20
Kogan Energy5.205.20
EnergyLocals5.005.00
CovaU Energy4.904.90
Alinta Energy4.904.90
Sumo4.904.90
GloBird Energy3.904.90
Tango Energy4.904.90
Amber Electric4.904.90
Dodo4.904.90
Pacific Blue4.904.90

Top 10 Solar Plans in VIC

Victoria is home to several competitive electricity retailers, each offering unique rates, plans, and price structures. In the table below, you’ll find some of the best solar plans currently available in the market.

RetailerMaximum FiT (c/kWh)Price/year (Est.)
Energy Australia (Solar Max)12.00$1570
ENGIE (Simply Solar)11.00$1225
AGL (AGL Solar Savers)10.00$1429
Origin Energy (Solar Boost)10.00$1570
1st Energy (1st Solar Bonus)9.90$1704
Circular Energy (Community Energy)7.00$1344
Arcline by RACV (Energy Plan)6.00$1225
Red Energy (Living Energy Saver)5.50$1245
Lumo Energy (Basic)5.50$1239
Momentum Energy (Nothing Fancy)5.40$1320

*Victoria electricity rates are based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network, the VDO reference price is: $1,571 / year. Click here for more information.

‘Big 3’ Solar Feed-In Tariffs VIC

In the table below, you’ll find the current solar feed-in tariffs for the ‘Big 3’ energy retailers: Origin Energy, Energy Australia, and AGL Energy.

Retailer Minimum FIT (c/kWh) Maximum FIT (c/kWh)
Energy Australia
Energy Australia
5.40 12.00
Origin Energy
Origin Energy
4.90 10.00
AGL
AGL
4.90 10.00

How Do I Choose the Right Solar Plan For Me?

When you’re comparing solar plans, there are many factors to consider. While the highest solar feed-in tariff might sound enticing, they generally have expensive electricity buy rates attached to them. So, if you are still purchasing a high amount of electricity from your retailer, you need to be careful you don’t end up paying all of the savings your solar system has generated back to the electricity retailer.

Here are some important questions to consider when choosing a new solar plan:

  • Do you export a lot of solar energy back to the grid?
  • Do you purchase a high amount of power from the grid?
  • Are you on a flat rate or a time-of-use solar feed-in tariff?
  • Are you on a peak or time of use electricity tariff?
  • Do you have a controlled load for your hot water?
  • When do you use most of your electricity, at night or during the day?
  • What usage rates and supply charges come with the plan you are looking for?
  • What are the contract terms and benefits offered with the plan you are looking at?

If you’re serious about a new electricity plan that will maximise the return on investment of your solar system, the quickest and easiest way to achieve this is to talk to an energy broker. An energy broker has the tools to run a serviceability check on your property to determine what tariff you are on and what rates energy retailers will provide you. They can also analyse your energy bill, pull your energy usage data and populate it into a calculator that will automatically calculate the cost-benefit of each plan. In turn, this will help you find a plan that will maximise your return on investment. On top of this, they can provide you with a breakdown of the contract terms and let you know how long the benefits of the plan will last and when you should review your plan again.

At Electricity Monster, that is what we do – we are energy brokers. If you would like to talk to one of our energy brokers to help you find a plan that will help you maximise your return on investment, give us a call today. The whole process is quick, easy, and, best of all, 100% free.

What is A Solar Feed-In Tariff?

As the name suggests, a solar feed-in tariff is a payment from your electricity retailer for the excess electricity produced by your solar panels system and sent back to the grid. It usually consists of a few cents for each Kilowatt hour (kWh). Generally, you will find this credit on your electricity bill.

How Do Solar Feed-in Tariffs in Victoria Work?

A solar feed-in tariff is a financial incentive for solar owners who generate excess power from their solar photovoltaic (PV) system and feed it into the main grid. Essentially, when your solar panels produce more electricity than you use in your household, the excess energy is exported to the electricity grid. In return, electricity retailers will pay you a predetermined rate for each kilowatt-hour (kWh) of surplus energy exported, which is referred to as the solar feed-in tariff. This serves as a form of compensation for contributing clean and renewable energy to the grid, helping to reduce reliance on fossil fuels and lower greenhouse gas emissions. Financially speaking, this can also help offset your electricity bills by being less reliant on the main electricity grid.

Are There Solar System Size Limits?

In Australia, there are guidelines that regulate the maximum size of your solar system. These guidelines vary depending on your network, where your home is located, and whether your home is a single-phase or three-phase connected property. 

But first, let’s break down the main differences between a single-phase and a three-phase connected property. Essentially, what separates these two connections is their capacity to meet different household electricity demands. While single-phase connections are suitable for smaller households, such as small businesses and new homes with moderate energy consumption, three-phase connections are better equipped to handle higher energy demands like large households and commercial properties. 

Each state or territory has separate regulations and guidelines set by the local distribution network operators. Here's an overview of solar system size limits in VIC:

NetworkSystem Size Limits
United EnergySingle-Phase: Up to 5kW (by inverter) Three-Phase Up to 30kW
Citipower/PowercorSingle Phase: Up to 5kW (by inverter) Three-Phase: Up to 30kW
AusnetSingle-Phase: Up to 10kW Three-Phase: Up to 30kW (export limit of 15kW)
JemenaSingle-Phase: Up to 10kVA (by inverter) Three-Phase: Up to 30kVA (by inverter)

Minimum Feed-In Tariff in VIC

A minimum flat rate feed-in tariff in Australia refers to the lowest price that electricity retailers are legally required to pay to households or businesses for the excess energy they export to the main electricity grid. The minimum feed-in tariff is typically set by government regulators like the Essential Services Commission and serves as a baseline for feed-in tariffs. The minimum flat rate provides a degree of fairness for solar owners.

For the 2024–25 period, the minimum feed-in tariff rate in Melbourne, Geelong, and the surrounding cities in Victoria, according to the Essential Services Commission, has been set at 3.3 cents per kilowatt-hour, down from 4.9 c per kilowatt-hour that was set in 2023–2024. 

The following table breaks down the time-varying minimum rates for VIC (2024-2025).

Option 1

PeriodTimeRate (2024-2025)
Flat RateWeekday: N/A | Weekend: N/A3.3 c/kWh
OvernightWeekday: 10pm - 7am | Weekend: 10pm - 7am7.6 c/kWh
DayWeekday: 7am - 3pm; 9pm - 10pm | Weekend: 7am - 10pm2.8 c/kWh
Early EveningWeekday: 3pm - 9pm | Weekend: N/A7.0 c/kWh

Option 2

PeriodTimeRate (2024-2025)
ShoulderEveryday: 9 pm to 10 am; 2 pm to 4 pm4.1 c/kWh
Off-PeakEveryday: 10 am to 2 pm2.1 c/kWh
PeakEveryday: 4 pm to 9 pm8.4 c/kWh

*Data from the figures above is drawn from the Essential Services Commission Victoria.

Can I Upgrade My Solar System?

Yes, you can. Many Australians are adding battery storage systems to their existing solar energy setup. An increasingly affordable solution for homeowners looking to remove themselves from the grid or reduce their reliance on grid energy, battery systems are growing in popularity.

If you have an existing PV system, adding a battery storage system to your existing setup or increasing the size of your solar PV system could result in long-term savings – although this ultimately depends on factors such as your budget, your electricity usage, and whether you’re a high exporter or rely on the main energy grid.

Some of the benefits of adding battery storage to an existing solar PV system include:

  • Energy Independence: Battery storage systems allow you to store excess solar electricity generated during the day for use during peak demand periods or at night when there’s little sunlight, reducing your reliance on purchased power.
  • Backup Power During Outages: Battery storage systems provide backup power during grid outages, so your lights, refrigerator, and devices will remain operational even when the grid is down.
  • Time-of-Use Savings: In regions with time-of-use electricity pricing, battery storage systems can help you take advantage of lower off-peak electricity rates by storing surplus energy when prices are low and using it when rates are higher, leading to increased cost savings.

Investing in a solar battery is a great way to maximise the benefits of your solar power PV system. If you’re looking to compare energy providers, need a solar installer, or want to learn more about solar battery systems, call our experts today.

Frequently Asked Questions

What Are the Financial Benefits of a High Solar Feed-in Tariff?

What is the Difference Between a Single Rate Tariff and a Time of Use Tariff

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Disclaimer

This publication reviews solar feed-in tariff rates and electricity plans in VIC that are accurate as of 10/05/2024.

Important Points to note are:

  • The plans displayed have been taken from the energy fact sheets published on the retailer's website. We do not guarantee that this information is correct or that it applies to every household in Australia.
  • Comparisons have been made on the peak rates in single rate plans from retailers, plus their daily electricity supply charges.
  • The Citipower network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
  • The Ausgrid network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in NSW.
  • The SA Power Networks network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
  • The Energex network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in QLD.
  • The Evoenergy network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in the ACT.
  • The ACTO network has been used to compare gas plans in WA.
  • The reference price/VDO/GAS comparison will differ based on tariff type and location (distribution area). Your actual energy bill may be significantly different from these estimates if your usage differs from the average amounts used in this calculation.
  • The information in this blog cannot substitute for legal advice. No financial decisions should be made based on information from this blog.
  • The average electricity price in Victoria is drawn from the Australian Energy Market Commission (AEMC), Residential Electricity Price Trends 2021, Final report, 25 November 2021. This figure reflects the default energy usage of a 2 person household.
  • All dollar figures include GST.
  • The plans displayed may be different than those advertised.
  • The plans offered on this page may not be available in our call center.
  • 'Get Best Offer’ is indicative of the best offer available in our database from our partners 
  • ‘Get More Info’ does not mean we will sign you up for the plan listed. Electricity Monster will provide offers in our database. We do not claim to be affiliated with the retailer.
  • When you click 'Sign Up Now' you agree to be contacted by our energy experts. Plans with said button are affiliated with our partnered retailers only.
  • Electricity plans are now compared to a regulated price called the Victorian Default Offer (VDO). This makes it easier to compare energy plans across the market. The VDO comparison and annual estimate is calculated based on an average usage customer.
  • When calculating our rates we include in the price/year estimate the GST (unless otherwise stated), any advertised non-conditional discounts (e.g. guaranteed discount), and any one-off credits.
  • What's not included in the price/year estimate are conditional discounts, green energy charges, any concessions or rebates which may apply to you, solar feed-in tariff credits that your solar system could generate.
  • The VDO comparison will differ based on tariff type and location (distribution area). Your actual energy bill may be significantly different to these estimates if your usage differs from the average amounts used in this calculation.
Benjamin Tom

Benjamin Tom covers the retail energy market, with a focus on electricity, solar, and Internet. His interests include helping people navigate the complexities of the energy market while saving money on their power bills.