FEED-IN TARIFFS (FIT)
A Feed-in Tariff (TIF) is the amount that energy suppliers or the government pay you for generating clean energy. They do this because you are producing enough energy to actually send some of it back into the grid. Yes, you can be an actual energy supplier. The feed-in tariffs are a way of speeding up the process of compensating for the costs of acquiring a solar energy system.
Feed-in tariffs can be split up into two type, being the net feed-in tariff and the gross feed-in tariff. The net feed-in tariff can be described as the payment you receive for all the energy you produced but didn't consume. The gross feed-in tariff is the total amount of electricity you produce for which you a receive payment for each kWh generated by your system. The feed-in tariffs differ from territory to territory. Below you will find the main differences per territory.
New South Wales - Net feed-in tariff
Electricity suppliers will pay you between 7.7 and 12.9 cents per kWh. This is based on the recommendations given out by the IPART (the NSW Regulator).
Victoria - Net feed-in tariff
The Victorian Feed-in tariffs are reviewed each year by the Essential Services Commission. All Victorian electricity suppliers must pay a minimum of 8 cents per kWh.
Queensland - Net feed-in tariff
The Queensland government will pay 8 cents per kWh send back into the Queensland grid.Energy suppliers in Queensland will pay up to 10 cents per kWh send back into the grid.
South Australia - Net feed-in tariff
The South Australian government will pay 16 cents per kWh fed back into the grid. The South Australian regulator (ESCOSA) will issue a recommendation every year to for energy suppliers in South Australia. The current feed-in tariff for energy suppliers in South Australia is 11.2 cents per kWh.
Western Australia - Net feed-in tariff
The WA feed-in tariffs depend on your energy supplier. Synergy will pay a flat rate of 8.5 cents per kWh. Horizon will pay you the same rate as the cost per kWh (up to 50 cents per kWh).
ACT - Gross feed-in tariff
ACT gross feed-in tariff is 40 cents per kWh for all systems up to 30kW and 50 cents per kWh for systems up to 10kW. Note that this is a gross feed-in tariff.