Feed in tariffs or FiT’s are state based systems that require electricity providers to pay for, or credit, any electricity that a solar system puts into the grid (your local electricity network) based on kW/ hrs (kilowatt hours).
The Essential Services Commission of South Australia (ESCOSA) has released a price determination for the solar minimum retailer payment that applies from 1 January 2016. The minimum retailer payment is 6.8 c/kWh, excluding GST. It is the electricity retailer who pays the feed in tariff and they may pay more than the minimum 6.8 cents.
Update December 2017, good news for those with solar, recently electricity providers have started paying more than the minimum required, AGL said they would be paying 16.3 cents per kiolowatt hour your solar system sends to the grid and I believe Origin are paying 18 cents, this is a big win for those with solar or contemplating getting solar, so the solar system can now more easily off set your night time usage. Happy days.
One of our customers recently bought in their AGL bill for deciphering and they were being credited 8 cents per kilowatt hour that their system put back into the grid.
Beware of offers from door to door solar sales people offering 20 or 30 cents per kilowatt hour, as from what we have seen of this the long, long list of conditions and the price they charge for the system is simply a sales gimmick and produces no real advantages.