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Renewable Energy News

MONDAY 09 JULY, 2012 |

Queensland's 'Mad Monday' - Solar Bonus Scheme Deadline At Midnight

by Energy Matters

Solar companies throughout Queensland are expecting a massive day as Queenslanders race to secure a system before the midnight solar feed in tariff application deadline.

Queensland currently has the most generous solar feed in tariff in Australia; paying 44c per kilowatt hour for surplus electricity exported to the mains grid. For those who submit applications after midnight tonight though, the incentive rate will plummet to just 8c per kilowatt hour, plus a 6 - 8c per kilowatt hour contribution by electricity retailers.

Households missing the Solar Bonus Scheme deadline could miss out on up to $20,000 in lost financial benefits over the life of a system.

Energy Matters' team manned the phones over the weekend and were kept very busy arranging system installations and incentive paperwork, particularly after the company launched a $1 deposit solar power deal for Queenslanders; which ends 10pm tonight.

Energy Matters is expecting to be even busier today as households leaving the decision to go solar until the last minute rush to secure the more generous solar feed in tariff arrangement.

Energy Matters says its 1300 727 151 hotline will remain open until 10pm tonight, but recommends people wanting to secure a system call as early as possible. The company also advises customers should have their NMI number on hand to assist the company's team in expediting feed in tariff application preparation and submission. NMI stands for National Meter Identifier number - it can be found on any electricity bill.

Monday may be the final feast before a famine for some in Queensland's solar industry. It's expected the lead up to the deadline will see enough work scheduled to last installers for a few months, but after that the situation is unclear. While the reduced feed in tariff rate will still make solar power a solid investment for Queenslanders unable to secure a system prior to the cut, payback time on a solar panel system will be substantially extended.