The Solar Feed-in Tariff (Solar FiT) in Australia is a program that pays you money 💵 for the excess solar electricity you generate and feed back into the electricity grid. Let’s explore best solar feed in tariff NSW 2024 in this blog.
You’ll learn
What is the solar feed in tariff (solar fit) in NSW?
The Solar Feed-in Tariff (Solar FiT) in Australia is a program that pays you money for the excess solar electricity you generate and feed back into the electricity grid.
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How Does the Solar FiT Work?
If you have solar panels installed on your home or business, they generate electricity from the sun 🌞. However, there are times when your solar panels produce more electricity than you actually need to power your property.
The Solar FiT allows you to sell this excess solar electricity back to the grid. The government or your electricity retailer will pay you a set rate per kilowatt-hour (kWh) for the solar electricity you feed into the grid.
Benefits of the solar FiT
So, if your solar panels generate 5,000 kWh of electricity in a year, but you only use 4,000 kWh yourself, you can get paid for the extra 1,000 kWh that you send back to the grid.
The rate you get paid per kWh is the Solar FiT, and it’s usually higher than the regular electricity rate you pay. This provides a financial incentive for homeowners and businesses to install solar panels.
The Solar FiT helps make solar power more affordable and encourages the uptake of renewable energy in Australia. It’s a way for solar panel owners to earn some extra money from the clean electricity they generate.
Solar feed in tariff rates in NSW 2024
| Retailer | State | Min Solar FIT | Max Solar FIT | Notable Conditions |
| ENGIE | NSW | 5.5 c | 12.0 c | |
| EnergyAustralia | NSW | 7.6 c | 12.0 c | System size 10kW max |
| GloBird Energy | NSW | 1.0 c | 12.0 c | First 8kWh per day, then 3.0c |
| Red Energy | NSW | 6.0 c | 12.0 c | Capped at first 5kWh per day |
| ActewAGL | NSW | 8.0 c | 12.0 c | |
| Origin Energy | NSW | 7.0 c | 10.0 c | Only if buy solar through Origin |
| AGL | NSW | 5.0 c | 10.0 c | System size 10kW max |
| Sumo | NSW | 3.0 c | 8.1 c | |
| Momentum Energy | NSW | 0.0 c | 7.0 c | |
| Alinta Energy | NSW | 6.7 c | 6.7 c | |
| Dodo | NSW | 6.2 c | 6.2 c | |
| 1st Energy | NSW | 5.0 c | 6.0 c | |
| CovaU | NSW | 5.5 c | 5.5 c | |
| Diamond Energy | NSW | 0.0 c | 5.2 c | |
| Energy Locals | NSW | 0.0 c | 5.0 c | |
| OVO Energy | NSW | 0.0 c | 5.0 c | |
| Powershop | NSW | 0.0 c | 5.0 c | System size 10kW max |
| Kogan Energy | NSW | 0.0 c | 5.0 c | |
| Amber | NSW | 0.0 c | 3.5 c | |
| Future X Power | NSW | 3.0 c | 3.0 c | |
| Tango Energy | NSW | 0.0 c | 0.0 c | |
| Nectr | NSW | 0.0 c | 0.0 c | |
| Pacific Blue | NSW | 0.0 c | 0.0 c | Must install through Tango and capped at 3.5kWh per day |
| Electricity in a Box | NSW | 0.0 c | 0.0 c | |
| Electricity in a Box | NSW | 0.0 c | 0.0 c | Market linked FIT (Variable) |
| Powerclub | NSW | 0.0 c | 0.0 c | Market linked FIT (Variable) |
| Social Energy | NSW | 0.0 c | 0.0 c | Must install solar and battery through Social Energy |
Why I need to know about solar feed in tariff rates?
If you’re getting a solar PV system that’s likely to produce more electricity than you usually need, it’s important to take advantage of the Solar Feed in Tariff. This way, you won’t waste the extra electricity your solar panels generate.
Battery Storage as an Alternative
Another option is to install battery storage 🔋 along with your solar panels. This can be useful if you tend to use a lot of electricity at night, when your solar panels aren’t producing.
The battery can store the excess solar electricity generated during the day, and then you can use that stored energy at night. This means less of your solar electricity will go to waste.
Choosing the right option 🤔
Whether you choose to take advantage of the Solar Feed-in Tariff or install battery storage really depends on your specific energy consumption patterns.
If you consistently produce more electricity than you use, the Solar Feed-in Tariff is a great way to get paid for that excess. But if you use a lot of power at night, battery storage might be the better option to make the most of your solar investment.
Our recent installation in NSW
We installed a 6.6kW solar system in Thurgoona, NSW 2640 with an estimated annual production of 10,856kWh and an estimated annual savings of $1,643.16.
Conclusion
The key is to carefully consider your energy needs and choose the solution that works best for your situation, whether that’s the Solar Feed in Tariff, battery storage, or a combination of both. We would also recommend you to cross check these rates (that we shared above) with your grid/electricity providers.
Are you planning to turn your rooftop into powerhouse? There’s a special offer on a 6.6kW solar system for your home, with installation starting from just $999 – get a free quote today!
