Victorian solar households are set to receive increased compensation for the power they provide to the grid, with new changes to feed-in tariffs.
Solar households are to receive a minimum feed-in tariff rate of 11.3 cents per kilowatt hour compared to the current five cents for selling excess electricity back into the grid.
Around 130,000 solar households will benefit from the changes.
Solar customers on the current minimum feed-in tariff rate will move onto the new tariff rate as set by Victoria’s independent regulator the Essential Services Commission (ESC), from July 1 2017.
“With this new feed-in tariff, the Andrews Labor Government is ensuring that households with solar panels are more fairly compensated for the power they send back into the grid,” said Minister for Energy, Environment and Climate Change, Lily D’Ambrosio.
The revised minimum feed-in tariff rate flows from the Labor Government’s support for the major findings of the Essential Services Commission’s Final Report into the Energy Value of Distribution Generation, which was tabled in Parliament in September 2016.
“We promised a fairer system and that’s exactly what we have delivered,” Ms D’Ambrosio said.
Included in the new tariff is a payment for the environmental and social value of energy provided to the grid.