With daytime NSW electricity rates up to 35c/kWh, offsetting daytime usage with your own solar power is effectively like having a 35c Feed in Tariff.
When feed in tariff rates were higher, the incentive was to export as much power during the day as possible by using appliances such as dishwashers and washing machines at night. Now with little incentive to export power, the best strategy is to set timers on these and other appliances and use them during the middle of the day so they run off your solar power and this will mean you won’t be paying the high rates.
Additionally, the fact that panel prices globally have plummeted over the last year means you can now have a 5kW system installed for under $10,000 whereas previously the same system would have set you back between $20,000~$30,000.
Combine these points with the fact that electricity prices have just risen 18% in NSW with more increases expected in the future.
If you have any questions about how to use the formulas or any other matter, please don’t hesitate to ask us a question.
Although New South Wales no longer has a guaranteed Feed-in tariff, most retailers still provide a relatively high rate for the electricity you feed back into the grid.
Rates are subject to change and vary across different retailers, be sure to check with your retailer about the rate which you are eligible to receive.
|*Retail Energy Provider||Current Rate||More info|
|Power Direct||11.1c /kWh||Website|
*Updated November 2018