Melbourne, the coastal capital of Victoria, is not just known for its coffee culture and art scenes; it’s also becoming a hotspot for solar energy! If you’re considering going solar for your home in VIC, Australia, you’re in for an exciting journey. But wait, there’s more! Solar feed-in tariff in Melbourne It’s a game-changer.

What is a Feed-in Tariff?

The feed-in tariff in Melbourne in 2023 varies depending on your energy retailer and the type of plan you have. However, you can expect to earn between 4.9 cents and 20 cents per kilowatt hour for the electricity you export.

The Essential Services Commission (ESC) sets a minimum feed-in tariff for Victoria each year. This means that all energy retailers must offer a feed-in tariff of at least 4.9 cents per kilowatt hour. However, many retailers offer higher feed-in tariffs to attract customers.

Some retailers also offer time-varying feed-in tariffs. This means that you’ll earn a higher feed-in tariff for exporting electricity at peak times, such as in the afternoon when demand is high.

To get the best feed-in tariff in Melbourne, it’s important to compare offers from different energy retailers. You can use a sun quote comparison service to get  sun quotes from multiple retailers in your area.

How does the feed-in tariff work?

The feed-in tariff (FIT) is a government incentive that pays you for the electricity you export to the grid from your solar panels. The FIT is designed to encourage homeowners to install solar panels and help reduce Australia’s reliance on fossil fuels.

When you install solar panels on your home, you’ll be able to use the electricity they generate to power your appliances and lights. Any excess electricity that your solar panels generate will be exported to the grid. Your energy retailer will then pay you for the electricity you export, based on the FIT rate you’re on.

The amount of money you earn from the FIT will depend on the following factors:

• The size of your solar panel system
• The amount of electricity your solar panels generate
• The FIT rate you’re on
• The FIT rate varies depending on your energy retailer and the type of plan you have. However, you can expect to earn between 4.9 cents and 20 cents per kilowatt hour for the electricity you export.

To receive payments from the FIT, you’ll need to have a smart meter installed. A smart meter is a special type of meter that can track how much electricity you generate from your solar panels and how much electricity you export to the grid.

Once you have a smart meter installed, your energy retailer will automatically track your electricity exports and pay you the applicable FIT rate. You’ll typically receive a payment from the FIT once a quarter.

Here is an example of how the FIT works:

• You install a 5kW solar panel system on your home.
• Your solar panels generate 5,000 kWh of electricity per year.
• You export 3,000 kWh of electricity to the grid per year.
• You’re on an FIT rate of 15 cents per kilowatt hour.

How to get the best feed-in tariff in Melbourne:

When comparing feed-in tariffs, it’s important to consider the following factors:

• The rate you’re offered per kilowatt hour
• Any time-varying rates that apply
• Any other terms and conditions, such as minimum contract lengths
• It’s also important to choose an energy retailer that has a good reputation and offers good customer service.

Here are some tips for getting the best feed-in tariff in Melbourne:

• Compare offers from multiple retailers. Don’t just sign up with the first retailer you see. Take some time to compare offers from different retailers to make sure you’re getting the best deal.
• Consider time-varying rates. Some retailers offer time-varying feed-in tariffs. This means that you’ll earn a higher feed-in tariff for exporting electricity at peak times, such as in the afternoon when demand is high. If you have a battery storage system, you can take advantage of time-varying rates by storing electricity during off-peak times and exporting it to the grid during peak times.
• Negotiate with your retailer. If you’re not happy with the feed-in tariff you’re offered, don’t be afraid to negotiate with your retailer. Many retailers are willing to negotiate with customers, especially if you’re a new customer or if you’re bundling multiple services together.
• Switch retailers if necessary. If you’re not happy with the feed-in tariff you’re getting from your current retailer, you can always switch to a different retailer. There are many different energy retailers to choose from, so you’re sure to find one that offers a good feed-in tariff.

Conclusion:

The feed-in tariff is a government incentive that pays you for the electricity you export to the grid from your solar panels. The Solar feed-in tariff in Melbourne varies depending on your energy retailer and the type of plan you have. However, you can expect to earn between 4.9 cents and 20 cents per kilowatt hour for the electricity you export.

If you’re thinking about installing solar panels on your home, it’s important to compare feed-in tariffs from different retailers to get the best deal. You can also use a sun quote comparison service to get  sun quotes from multiple installers in your area.