Australian homes with rooftop solar systems will benefit from energy price hikes
« Back to BlogPosted: 26 Jun 2017
There’s been a lot of bad news coming from the energy sector in the last few weeks, so let’s take a minute to focus on some of the good news.
Australian homes that have rooftop solar systems will be benefitting from the wholesale energy price hikes, as the retailers are preparing to increase Feed-in tariffs [FiT] by up to 140%.
AGL said that they will be increasing their FiT in South Australia from the current value of 6.8c to 16.3c. That is a 140% increase.
FiT rates for residential customers in Queensland, New South Wales and Victoria will increase between 77% and 126%. The new FiTs will range from 11c to 16c, up from between 5c and 7c. These new rates are set to take effect on July 1, 2017.
“Australia has the highest rate of household solar panel installation in the world, with around 15% of Australian homes hosting solar panels, and we see the uptake increasing especially as the price for solar PV systems continues to decrease. We also know consumers are wanting and expecting greater control and visibility of their energy usage and management and this too is driving solar PV uptake,” said Sandra de Castro, general manager, sales & marketing, AGL.
These increases could equal as much as $332/year for some households.
That’s good news, right.
For the remaining 85% of households that have yet to invest in a solar system, now really is the time to take control of your energy bills.
The current Government rebate is as high as it will ever be, at $4826* and the prices of solar PV systems are at an all-time low. When you include the increased FiT rates, there really is no better time to combat the increasing energy price hikes and leveraging off solar’s free energy.
We can help by organising 3 FREE QUOTES from local solar suppliers, allowing you to make the best decision for your household.
It’s quick, easy and obligation-free.