NEWSFLASH – Victoria’s Solar Feed In Tariff To Be Slashed Soon

In a meeting held today between the Clean Energy Council (CEC) and the Department of Primary Industry (DPI) to discuss the existing Victorian Premium Feed-in Tariff (PFiT) incentive, the DPI reportedly stated the current program would be phased out for new connections.

The 100MW cap in place for Victoria’s feed in tariff is expected to be reached shortly (if not already) and an interim program, yet to be formally announced, will take its place.

The interim program will reportedly be similar in structure, but the incentive would be lowered for new connections. Currently, 60c per kilowatt hour is paid or credited to system owners for surplus electricity generated by their solar arrays that is exported to the mains grid.

The intention is to conduct the phase out “very fairly, unlike the sudden-death cut-offs in other states,” according to an industry source.

It’s also been reported a formal announcement about the new interim program will not be made for a couple of weeks.

Victoria-based Energy Matters is currently offering a series of solar power packages to help as many Victorian households as possible take advantage of the state’s feed in tariff program.

Under the current feed in tariff rate, a household in Victoria with an entry-level system of 1.4kW can save an estimated  $832 a year on electricity costs – and with electricity prices rapidly escalating, increasing numbers of Victorians are making the switch to solar panels.

This is a developing story – we will update this article as new information becomes available.