Solar Panel Feed In Tariff Explained

Net metering is a solar incentive that requires your utility to purchase excess solar electricity that your solar panels produce at the full retail value of electricity.

Solar panel feed in tariff explained.

A solar feed in tariff is a credit you receive for excess solar power that your system generates and exports back to the grid feed in tariffs are typically between 9 15c per kilowatt hour kwh but the rates vary in each state and are ultimately determined by your electricity retailer. Annual solar pv electricity production. Feed in tariffs are the rates solar panels owners receive for one unit of power kwh sent to the gird. In other words when your solar panels produce more electricity than your home needs that excess power will be sent to the power grid.

It s important to understand feed in tariffs if you want to get the best value from your solar that s why in this article we explain everything you need. Feed in tariffs are paid by electricity retailers and aim to encourage to go solar. The feed in tariff fit pays around 80 000 homes for generating renewable electricity mainly from solar photovoltaic pv panels. Find out how to apply.

Read on to find out if you can benefit financially from installing renewable technology at home without the feed in tariff. If you have solar panels or you re considering buying some then you ve probably heard of something called a feed in tariff fit otherwise known as a buy back rate or simply a solar tariff but what does this mean. So if you are producing more electricity from your solar panels than you are using at that point in time you get paid for. A feed in tariff is a payment you can get if you generate your own electricity eg with solar panels or a wind turbine and you can also sell energy back to the grid.

It closed to new applicants in march 2019. Feed in tariff payments are guaranteed for 20 years and will increase in line with. Income is earned for every unit of electricity that a solar pv system generates regardless of whether the power is used by the owners or not. When solar panels generate more energy than needed the excess energy is sent back to the main grid for others to use.