Newsflash – Gross Solar Feed In Tariff For NSW

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After a review in New South Wales of upcoming solar feed in tariff arrangements, known as the NSW Solar Bonus Scheme, the Rees Government last night decided to switch from a net feed in tariff model, which only only pays for surplus electricity produced and exported to the mains grid, to a gross model where all power generated by a home solar power system will attract a premium payment.
   
Households in New South Wales with solar panels will be paid 60 cents per kilowatt hour for all electricity generated under the Solar Bonus Scheme. The NSW scheme will have a cap on the size of home solar power systems of 10 kW. According to a press release from Premier Rees’s office, a system this size would generate around 16 700 kWh and pay almost $10 000 a year.
    
The generous rate will allow home owners to receive a much more rapid return on their investment for installing solar panels. 
   
Gross feed in tariffs are considered a key element in boosting solar power uptake and are at the heart of Germany’s dominance as a solar power generating nation. The ACT is the only other state or territory in Australia currently offering a gross feed-in tariff. 
     
The NSW gross feed in initiative is due to commence in January 2010 and the scheme is proposed to run for seven years. Legislation for the Solar Bonus scheme is expected to be passed in NSW Parliament by mid-November.
   
Related:
   
NSW Solar Bonus Scheme details 
New South Wales solar power specials
Instant online quote for NSW solar power