Top Solar Feed-In Tariffs in Victoria: What You Need to Know

The Australian government is all about taking initiatives that let people choose solar panel installation and energy-efficient products. By offering rebates and incentives, it attracts people towards a green future. This initiative will not only be beneficial for the environment but also for your bank accounts. As you install solar panels in Victoria, you get a pre-decided rebate and incentive that contributes to the cost of the investment. We are aware that you know about these rebates and incentives. But do you know about feed-in tariffs? Well, if you don’t know, then don’t worry; we are sharing this blog post of basic information about feed-in tariffs.

Let’s explore a brief guide about feed-in tariffs in Victoria

What is a feed-in tariff?

At times, your residential solar panels in Melbourne and commercial solar panels in Melbourne may produce more energy than you need. Now, the excessive energy goes back to the grid. As it goes back, your energy retailer pays for the excess energy that has been sent back to the grid. The amount the energy retailer pays you for excessive energy is called the feed-in tariff. The excessive solar energy is measured in cents per kilowatt hour (c/kWh). If you want to earn more feed-in tariffs, then it is totally in your hands. Try to save more energy, and your account will be filled with feed-in tariffs.

How does the feed-in tariff work in Victoria?

The feed-in tariffs are set by the higher authority named the Essential Services Commission (ESC). Usually, all the energy retailers follow the same feed-in tariff rates. As of now, for the current 2024-25 financial year, the minimum rate is 4.9c/kWh. As this is the minimum feed-in tariff rate, some energy retailers can offer more than this. The extra feed-in tariff rate depends on certain plans or energy bundles. Some energy retailers offer 10c/kWh, but this includes certain pre-decided plans.

Time-Varying vs. Single Rate Tariffs

This can be called a type of feed-in tariff. This works in a way that tariffs change depending on the hours you export your solar energy. Take it as an example: if you transfer energy during peak hours, like 3 PM to 9 PM, you will earn more. And if you transfer energy during the night hours, then the chances of receiving a feed-in tariff decrease.

Things to be careful of while selecting a plan

It is not always about feed-in tariffs. You must be careful while selecting a solar plan. As there are various things that affect the overall performance as well as finances. While selecting a plan, look for these things apart from feed-in tariffs.

• Higher electricity usage rates
• Higher daily supply charges
• Export limits and caps on system sizes
• Lock-in contracts and flexible terms

These things altogether need to be checked before signing up for any of the feed-in tariff plans. Because it is a human tendency that we only look at the beneficial part and don’t consider the things that come with it.

How to maximise your solar returns?

There are ways you can maximise your solar returns. It is just that you have to be careful while selecting a plan.

• Review energy plans regularly, as energy retailers change feed-in tariff rates often.
• Install a battery for evening energy usage and timed export.
• Ask your energy retailers about different plans.

Conclusion

Solar panel installations are the best choice when you want to save the environment as well as some money. Solar panel installation in Melbourne can offer you rebates and incentives if you install residential solar panels or commercial solar panels. A solar panel system with a feed-in tariff can add extra benefits to your pocket. There are many solar panel installers in Victoria that assist you with your energy needs and share the right plans as per your energy requirements. Sunburn Solar is one of the best solar panel companies in Victoria. Call us today for residential and commercial solar panel installations.