Mon-Fri 9AM to 8PM (AEST)In 2023, the solar landscape in Victoria is adorned with a myriad of options. To find the best option for your home, it’s important to understand how the solar feed in tariff Victoria works so you can save on your bills and help work towards a more sustainable future.
This comprehensive guide explores the 10 best solar feed in tariff Victoria for 2023. We’ll also go through their best plans and features. So let’s get started.
Table of content
- Why is Solar Power Becoming a Necessity?
- Why choose a higher solar feed in tariff VIC?
- Solar Feed In Tariff vs Energy Rates
- Best Feed In Tariff Victoria 2023
- Top Three Solar Plans in VIC 2023
- Wrap Up
Why is Solar Power Becoming a Necessity?
Solar power has become more and more popular in recent years, and as Australia transitions to a renewable energy future, it may soon become a necessity.
The solar rebate Victoria 2023 is the state government’s way of supporting Australia’s 2050 Renewable Energy Target (RET) by offering a subsidised solar feed in tariff (FiT) to help support residents through the transition to renewables.
The government’s financial incentives, along with the technological advancement of efficient and affordable choices of solar panel energy storage solutions and smart grid integration has enhanced the feasibility of solar power throughout the Victorian state.
Why choose a higher solar feed in tariff VIC?
The solar feed in tariff is a payment received from your electricity provider for the excess energy produced and returned to the grid. The price per kilowatt that you receive varies between electricity retailers, so it pays to look around for the best solar feed in tariff VIC because it could make a big difference to your bill. This payment is usually paid as a credit to your future electricity bills. In many cases, your electricity bill can be almost entirely offset by the excess energy you sell back to the grid.
Solar Feed In Tariff vs Energy Rates: How Do They Differ?
A feed in tariff Victoria is a financial incentive that is offered by energy providers to customers generating excess electricity through renewable sources like solar panels. When this excess energy is fed back to the grid, consumers are paid at the rates the energy retailers are offering.
By promoting clean energy generation, FiTs contribute to reducing carbon emissions and fostering a greener environment. The best solar feed in tariff VIC typically has a fixed term during which the rate is guaranteed, providing stability for the customer.
Energy rates, in contrast, refer to the amount consumers pay per kilowatt-hour (kWh) of electricity consumed. These rates vary based on factors such as location, energy provider, consumption patterns, and sometimes the time of day.
While FiTs promote renewable energy adoption and environmental sustainability, energy rates reflect the economic dynamics of the energy market and determine the cost consumers pay for their electricity usage.
Here’s a birdseye view that highlights the differences between feed-in tariffs and energy rates:
| Aspect |
Feed-In Tariff (FiT) |
Energy Rates |
| Definition | Incentives paid for surplus renewable energy fed back into the grid. | Cost consumers pay for electricity consumed, typically per kilowatt-hour (kWh). |
| Purpose | Encourage renewable energy adoption, support grid stability, and reduce carbon emissions. | Revenue for energy providers covers production, infrastructure, and maintenance costs. |
| Calculation Basis | Compensation per kWh of surplus energy fed back. | Cost per kWh of electricity consumed by the user. |
| Beneficiaries | Owners of renewable energy systems (e.g. solar panels) that generate excess electricity. | Consumers, businesses, and industries use electricity from the grid. |
| Incentive Structure | Typically higher than standard energy rates, encouraging investment in renewable technologies. | Fixed or variable rates are based on market dynamics, influenced by supply, demand, and regulatory factors. |
| Duration | Fixed term for 6 to 12 months, offering stability for investors. | Ongoing or fixed term, subject to market fluctuations and contractual agreements. |
| Environmental Impact | Promotes clean energy generation, reduces carbon emissions, and supports environmental sustainability. | Reflects market dynamics, not directly tied to renewable or clean energy sources. |
| Billing | Providers pay users for surplus energy fed back into the grid. | Consumers pay providers for electricity consumed, reflected in monthly bills. |
| Usage Focus | Focuses on surplus energy generation from renewable sources (e.g., solar, wind). | Applies to all electricity consumed, for residential, commercial, and industrial purposes, regardless of sources. |
Best Solar Feed In Tariff Victoria 2023
Imagine a world where your energy bills transform into a source of income while reducing your carbon footprint. Well, if you find the right solar feed in tariff for your home, it could become a reality!
To help you decide between the multitude of options, we have gathered the best solar feed-in tariffs VIC 2023. This will guide you to make informed decisions tailored to your specific needs.
|
Retailer |
Maximum Feed-In Tariff (FiTs) c/kWh |
Minimum Feed-In Tariff (FiTs) c/kWh |
| Energy Australia |
5.40c |
15.00c |
| AGL |
5.20c |
15.00c |
| Origin Energy |
5.20c |
12.00c |
| Simply Energy |
5.20c |
11.00c |
| Sumo |
5.20c |
10.20c |
| 1st Energy |
5.20c |
9.90c |
| Energy Locals |
8.30c |
8.30c |
| OVO Energy |
5.20c |
7.00c |
| Circular Energy |
7.00c |
7.00c |
| CovaU |
6.70c |
6.70c |
Top Three Solar Plans in VIC 2023: Unlock the Local FiTs
If you are in Victoria, when you compare energy plans you’ll find a great range of solar and carbon-neutral plans to choose from. We’ve chosen our Top 3 below:
1st Place: Energy Australia Solar Plans
When it comes to dependable solar solutions, the Solar Max plan comes first in our books, with an attractive solar feed-in tariff VIC of 15 c/kWh. Presenting competitive energy rates with zero exit fees, Energy Australia’s pricing is transparent with no hidden costs. Their variable rate plan gives a clear understanding of your investment.
2nd Place: AGL Solar Plans
With their commitment to green energy, AGL’s solar plan offerings are a testament to dedication. Their solar plans are designed to minimise environmental impact, ensuring your energy consumption aligns with the principles of sustainability. By choosing AGL, you actively contribute to a greener planet.
A Solar Saver plan by AGL offers competitive energy rates with a high solar feed in tariff Victoria of 15 cents per kWh. This makes it a great choice for a solar plan for homeowners and businesses alike. With their $0 exit fee, this is no burden on the customers, as they can leave whenever they want.
Please note that AGL is currently not on CheapBill’s panel to be compared against other service providers. For any enquiries or concerns, we would encourage you to visit the official website (agl.com.au).
3rd Place: Origin Energy Solar Plans
Solar Boost plans offered by Origin Energy are hard to beat as they offer the highest feed in tariff rate in Victoria. To get the most out of your solar plan, all you need to do is have your solar panels installed with a system size under 7 kW.
This way, you will be eligible for a feed-in tariff of 12 cents per kWh. Featuring a variable rate plan, they include the best solar feed-in tariff with a $0 exit fee. With no lock-in contract, customers can leave anytime they want. For any queries relevant to Origin Energy’s services and plans, please visit originenergy.com.au, since CheapBills doesn’t have this particular provider on our panel.
We have summed up these energy providers by plans and their respective feed-in tariff rates in the table below.
|
Position |
Provider |
Plan Name |
Solar Feed-In Tariff |
Energy Rates |
Exit Fee |
Additional Notes |
|
1st Place |
Energy Australia |
Solar Max Plan |
15c/kWh |
Competitive |
$0 |
Highest Feed-In Tariff and Transparent Pricing |
|
2nd Place |
AGL |
Solar Saver |
15c/kWh |
Competitive |
$0 |
Highest Feed-In Tariff and Environmental Friendly |
|
3rd Place |
Origin Energy |
Solar Boost |
12c/kWh |
Competitive |
$0 |
Environmental Friendly |
Wrap Up
The significance of solar power and the associated feed-in tariff cannot be overstated. With the abundant opportunities in Victoria, both individuals and businesses can save money and help the environment with a solar power system. Choose the best solar feed-in tariff VIC and plan, and contribute significantly to a cleaner, greener, and more sustainable world.
