July 1, 2017 will be a date worth celebrating for over 130,000 solar households and businesses in Victoria.
Why the massive popping of champagne corks you ask?
From July 1, any household that sells solar-generated power back to the grid will then receive a minimum of 11.3c/kWh for their feed-in tariff [FiT]. This is the first increase in more than six years and amounts to more than double the current price of 5c/kWh.
Victorians who benefit from this windfall have the Labor Government to thank for the standard tariff. Their intention was to include network benefits, network benefits and environmental benefits into the improved tariff.
This new standard FiT remains solely within the state of Victoria.
This is great news for local installers, who will capitalise on the predicted resurgence of interest in creating solar power and selling it back to the grid.
Not only is this set to benefit those who have already made an investment in solar, but it will also encourage those on the sidelines to invest as well.
If you live in Victoria and want to take advantage of the new solar FiTs, get 3 quotes now.