Tasmanian households considering going solar should make a move right now if they wish to secure the current feed in tariff incentive.
Deputy Premier Bryan Green announced yesterday all existing households under the scheme and those submitting feed in tariff applications before August 30 will continue to receive the feed-in tariff at the current 1:1 rate until 1 January, 2019.
“This will ensure existing customers are treated fairly in light of the capital investments they have made under the current system.”
For those submitting an application after August 30, a transitional feed-in tariff rate of 8 cents per KWh will be introduced from August 31 until December 2013. The feed in tariff rate from the beginning of next year is yet to be determined.
According to solar power provider Energy Matters, a 5.5 kW solar panel system the company is currently offering on special installed in Hobart or Launceston can return a financial benefit of approximately $1,600 annually under the current feed in tariff rate. Even a small system can put a sizeable dent in a household’s power bills.
To help more Tasmanian households go solar, the company is also offering a zero-deposit, Save As You Go payment plan option on many solar power systems, whereby electricity bill savings can be more than the repayments.
The deadline announcement is likely to generate a rush on solar panels, so Energy Matters encourages households to not leave organising a system until the last minute as application preparation, which Energy Matters will assist with, requires some lead-up time.
Another looming deadline relating to feed in tariffs in Australia occurs in South Australia soon. The 16c component of SA’s incentive will only be available for new applications up until the end of September. Energy Matters advises its own cutoff date is the middle of September in order to ensure enough time for the necessary related processes to be completed.