Breaking News! Vic Slashes Solar Feed In Tariff

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?

Read more from the Age here and from the horse’s mouth here.

 

About Finn Peacock

I'm a Chartered Electrical Engineer, Solar and Energy Efficiency nut, dad, and founder of SolarQuotes.com.au. My last "real job" was working for the CSIRO in their renewable energy division.

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