The Victorian government has just announced that their FIT has immediately been slashed from 25c per kWh to 8c per kWh.
Basically if you haven’t already paid a deposit on your solar system, you can’t claim the 25c FiT any more.
The details are a bit hard to get out of the Vic pollies at the moment. For example the 8c scheme starts on Jan 1 2013. So what happens to all the electricity a new solar system exports until then?
Also they say:
“The tariff will then be adjusted by the government each year in 2014, 2015 and 2016 based on the wholesale electricity price, before moving to a fully floating market price in 2017.”
Anyone care to hazard a guess as to what that actually means?