Solar owners need to take into account a few factors when choosing a solar plan for their home.
Shopping around is key to getting yourself the best energy deal for solar. Compare plans available in your area before committing to one.
Input your energy usage (check your most recent bill) to get the most accurate cost estimate for your household.
How much will you be exporting back to the grid? Sustainability Victoria says that most solar systems export 50–70% of their power. If you opt for a provider with a low feed-in tariff (FiT), your power bill credits will also be small.
Opting for the highest FiT isn't always beneficial. Some electricity plans offer a very high FiT but only to a limited amount of kilowatt-hours (kWh). Others may offer a decent FiT but a high kWh price at night. In some instances, electricity plans made specifically for solar owners have a different pricing altogether and include a higher daily fixed charge.
Make sure to read the fine print before choosing an electricity plan. Some plans may have restrictions on the size of an eligible system. There could also be export limits or declining FiT after your benefit period has expired.
Our table lists the highest feed-in tarrifs available in each state. For most states you'll notice we've included 2 options.
Solar power is more popular than it's ever been in Australia. But because of this, tariffs from the power companies aren't necessarily what they used to be. So before you automatically opt for a feed-in tariff, make sure you check whether you'd be better off on your bill using it yourself, or storing it.— Tom Goodwin, Commercial Content Editor
That's because energy consumption habits vary by household. You might benefit from a flat FiT that's not the highest around but still good. Or you may prefer the highest FiT for a certain amount per day followed by a lower FiT per kWh for the remainder of the day.
Higher feed-in tariffs can look attractive on paper but most plans with higher FiTs likely have a more costly usage rate. This means you'll end up paying more to buy additional energy from the grid if you ever need to.
To find the best feed-in tariff for your home, you need to consider the following:
If you're worried that feed-in tariffs won't really cover your costs, consider investing in a solar battery to reduce your reliance on grid power. These extend the time it takes for your solar system to pay itself off but can be an excellent long-term investment.
Good to know. FiTs are less important than they used to be. Back in the day, you would be paid up to 60c/kWh for each bit of energy exported. These days, you'll be lucky to get paid more than 10c/kWh in most states.
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