The Feed-in-tariff scheme works by paying you for excess electricity your system sends back into the grid.
The more energy your solar system generates - the more you get paid. Installing a larger system becomes more financially advantageous because you sell more energy.
During the day you are likely to generate more electricity than you consume. For every excess unit (kWh) exported to the grid, you are guaranteed to be paid a tariff of $0.44 by the SA Government. Some retailers also purchase your exported energy for up to $0.06 - making a total of $0.50 buyback. This payment can come in the form of credits against your bills or a cheque if you are regularly ahead.
E.g.: if your system generated 8 units of energy today, and during the daytime you used 2, the first 2 units generated provide power to your home (reducing your energy bill). The other 6 units generated are exported to the grid and credited at $0.44 (or $0.50) per unit (kWh). In dollar terms this can provide a financially accelerated return on your investment.
By improving the efficiency of your home you can return more power to the grid and maximise the savings on your electricity bill.
-Feed-in Fact Sheet- |