EnergyAustralia Solar Feed-In Tariff Changes

EnergyAustralia feed in tariff

“Big 3” electricity retailer EnergyAustralia has very recently updated its solar feed-tariff rates – with three states losing out.

A feed in tariff is a payment made to owners of solar power systems for the surplus electricity they generate that is exported to the mains grid1. The level of payment varies across Australia depending on a variety of factors, including who the electricity retailer is. You can learn more about solar feed-in tariffs here.

EnergyAustralia Current Single Rate Feed-in Tariff

Here’s how the revised rates from Energy Australia look.

State FiT per kWh
Victoria 12.0 cents
New South Wales 10.5 cents
Australian Capital Territory 10.5 cents
South Australia 11.5 cents
Queensland 11.5 cents

Time Of Use (ToU) FiT – Victoria only

Peak
(3pm-9pm Weekdays)
Shoulder
(7am-3pm, 9pm-10pm Weekdays;
7am-10pm Weekends)
Off Peak
(10pm-7am everyday)
14.6 cents per kWh 11.6 cents per kWh 9.9 cents per kWh

A ToU feed-in tariff is based on the time of day the electricity is exported to the grid. Most solar owners would be on the single rate in the first table, which is a flat rate paid regardless of the time of day.

Previous Single Rate Feed-in Tariff

Just for comparison, here are the previous rates that were noted on the EnergyAustralia web site early this week.

State FiT per kWh
Victoria 12.0 cents
New South Wales 12.5 cents
South Australia 15 cents
Queensland 16.1 cents

Previous Time Of Use (ToU) FiT – Victoria Only

Peak
(3pm-9pm Weekdays)
Shoulder
(7am-3pm, 9pm-10pm Weekdays;
7am-10pm Weekends)
Off Peak
(10pm-7am everyday)
14.6 cents per kWh 11.6 cents per kWh 9.9 cents per kWh

South Australian EnergyAustralia solar customers will be losing 3.5c per kilowatt-hour, Queenslanders 4.6c and 2c in the case of New South Wales. In Victoria, EnergyAustralia’s rate is the current minimum set by the Essential Services Commission, which has proposed a reduction for the new financial year. As for the ACT, I’m not clear if there were any changes as the previous rate wasn’t noted.

There haven’t been any notes from EnergyAustralia that I’ve seen regarding the changes.

The reductions don’t mean solar power suddenly isn’t worth it – it most definitely still is. If you’re considering installing solar panels, use our new solar calculator to calculate estimated savings and payback based on various scenarios – and bear in mind EnergyAustralia isn’t the only electricity retailer.

Shopping Around For The Best Feed-In Tariff

The news will likely have some SA, NSW and QLD EnergyAustralia solar customers looking for greener pastures – and that’s where the SQ electricity retailer comparison tool can be helpful. Just note that at the time of writing, the EnergyAustralia rates noted on the tool were yet to be updated; which should happen soon.

Another very important point is the best solar feed in tariff doesn’t always represent the best overall deal.

The best electricity plan for solar power system owners offers a balance of high feed-in-tariffs, low usage tariffs and low daily charges. As well as FiTs, the SQ comparison tool will show you usage rates (after all discounts) and daily charges, along with a typical annual bill estimate based on a self-consumption percentage you can specify.

Footnotes

  1. Except in the NT, where all solar electricity generated receives the feed-in tariff

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