With just 39 days before South Australia’s solar feed in tariff rate will be dramatically slashed for new applications, a rush is on to acquire a home solar power system before the deadline.
The current very generous feed in tariff incentive rate paid to solar households in South Australia will be dropped substantially from 44c per kilowatt hour to 22c for new connections to the scheme occurring after September. The new rate will be roughly equivalent to current retail electricity costs; so in effect, a 1:1 feed in tariff.
According to national solar solutions provider Energy Matters, under the current higher feed in tariff rate, an entry level 1.44kW system installed in suburban Adelaide can return up to $880 a year in electricity savings and financial benefits. Larger systems can wipe out a household’s electricity bill altogether and even create an additional source of income.
Energy Matters’ estimate is based on an assumption of an average of 50% of the electricity generated by the solar panels being fed into the grid. Electricity would be exported into the grid during times of low consumption; for example, when no-one is at home. The company points out the actual feed in tariff benefit will vary, depending on a household’s electricity consumption profile.
In addition to the solar feed in tariff, South Australian households are also eligible for the Solar Credits scheme, which can reduce the initial cost of a system by thousands of dollars.
Energy Matters provides an instant online solar quote system via its web site where people can select a system from a large range and see an estimate of the financial benefit it will provide, based on the installation location within South Australia. The company says it strives to make going solar simple and offers obligation-free advice on system selection and incentives.
Energy Matters is currently offering a series of solar power specials in an effort to help as many South Australian households as possible join thousands of the company’s other customers now making their own electricity with rooftop solar panels, before the feed in tariff rate cut for new applications kicks in.