It’s been on the cards for a while – but changes to the premium solar feed in tariff (PFiT) in Victoria for new applications have moved from “soon” to an announcement being made any time now.
According to a bulletin from the Clean Energy Council, a body representing Australia’s clean energy sector, an announcement regarding the existing Premium Feed-in Tariff (PFiT) and a transitional package is “imminent”.
The Victorian Premium Feed-in Tariff program had a total capacity of 100 megawatts of solar panels across the state. It’s assumed the cap has been reached; but instead of a “sudden death” approach taken in some states, the program is instead expected to be phased out for new applications over a period of time.
The CEC says the Department of Primary Industries have been working on a more definitive closure process for the existing PFiT, with clear dates for when certain steps are to be executed.
National solar solutions provider Energy Matters has been running a series of solar power specials in order to help as many households in Victoria as possible take advantage of the state’s current generous feed in tariff program before the changes are enacted.
Under the current program, solar households are paid or receive a credit of 60c per kilowatt hour for surplus electricity generated by their system that is exported to the mains grid. Households signed up to the Premium Feed-in Tariff will continue to receive this rate until 2024.
According to information on Energy Matters’ Victoria solar specials page, an entry-level 1.44kW solar power system installed in suburban Melbourne can provide electricity bill savings of up to $897 annually; making the payback period on a system installed in Victoria quite rapid.