Will solar feed-in tariffs disappear?
The short answer: No (well, it’s very unlikely).
At the end of the day, electricity will always have value – and where there’s something valuable, there’s a buyer. So as long as solar owners are producing surplus power, there’s an incentive for electricity retailers to buy it. But the future of feed-in tariffs won’t necessarily stay steady.
What is a solar feed-in tariff?
When you generate solar power in Brisbane, you probably won’t use it all. Unless you have a solar battery to store it, you can send that surplus electricity to your local grid. Then depending on who your electricity retailer is, they’ll pay you a rate for the solar energy you export (per kilowatt-hour).
That rate is the solar feed-in tariff. And the exact amount offered is affected by the state you live in, the energy plan you choose, and the date you make the contract.
A Slow Decline
Ten years ago, when installing solar power in Brisbane was a more expensive investment, the feed-in tariffs available were very high. In fact, in some states the rates were almost twice as high as current rates (around 60c).
But as solar systems have become cheaper and more have been installed – Queensland alone has over 685,700 small-scale systems installed – the rates have slowly been reduced. And they will likely continue to very slowly decrease over the coming decades.
The Unwavering Value of Solar
The value of rooftop solar power in Brisbane and other cities is as strong as ever – and it will continue to play a key part in Australia’s push towards a greener future. Aussie states are committed to reducing carbon emissions and maximising renewable energy resources. So it’s in their interest to make solar systems an enticing option for homeowners. That’s why there are (and will be) so many government-backed incentives and financing options for solar power. Brisbane and the rest of QLD is already rapidly becoming a solar-powered city. So even if rates do slightly decrease over the next few decades, the return on investment from going solar will remain positive.
If you want to make the most of having higher feed-in tariffs for a longer period of time, it would help to install a solar system as soon as you can. If you’re not sure where to start your solar power Brisbane journey, our team can talk you through it.
Get in touch with our friendly team to find the right solar solution for your home today!