If you’re on a premium solar feed-in tariff (PFiT), it’s likely it will end in the next 1-10 years or so depending on your state. For example, the Victorian premium feed-in tariff scheme will end in 2024, whereas the ACT won’t start phasing its feed-in tariff out until around 2031.
But first things first, what is a premium solar feed-in tariff and would you know if you’re getting one?
The premium, or bonus, solar feed-in tariff schemes were introduced by the state governments around a decade ago to incentivise people to get solar panels, back when rooftop solar was relatively new. The schemes rewarded solar owners with a high feed-in tariff for their solar exports.
All premium feed-in tariff schemes are now closed to new entrants, and some state’s PFiTs have already ended altogether.
You’ll know if you’re on one of these solar feed-in tariffs because your FiT will be quite high (usually around 40-60 cents, depending on your state) and you would have installed your solar system around 10 years ago.
When does my premium solar feed-in tariff end?
- The West Australian Solar Feed-in Tariff (20-40c) ends 10 years after installation of the solar system, which is around 2021 for most people. The first premium feed-in tariffs in WA started ending in July 2020.
- The Victorian Premium Feed-in Tariff (60c) ends in 2024
- The Queensland Solar Bonus Scheme (44c) ends in 2028
- The South Australian Solar Feed-in Scheme (44c) ends in 2028
- The ACT Feed-in Tariff (from 30.16c) ends around 2031 (or 20 years after installation)
What happens when my premium solar feed-in tariff ends?
While a higher solar feed-in tariff is great, it’s not the be-all and end-all for solar households. The best way to save with your solar panels is to understand how to use your solar power depending on your feed-in tariff, whether that’s a premium FiT or a standard FiT.
At DC Power Co, we’ve developed a suite of solar services to help our customers understand their energy usage and maximimse their solar savings. Our customers get a Solar Alert to let them know anytime their solar exports look unusually low, personalised advice to help them maximise their solar savings and access to our great solar panel and battery offers.
And we’ve teamed up with Powershop to offer an exciting new energy offer so you can get all of that along with 100% carbon offset energy by Powershop. Plus, If you receive a premium feed-in tariff and switch to Powershop, it comes with you and they add a little extra on too.
So, why not experience the DC service for yourself?