What is the Premium Feed-in Tariff?
The Premium Solar Feed-in Tariff was introduced on 1 November 2009 to provide extra support for people installing rooftop solar power and was closed to new applicants in late 2011.
What is the premium rate credited to solar customers under the scheme?
A minimum of sixty cents per kilowatt hour is credited for any excess electricity fed back into the state electricity grid.
How is the feed-in tariff calculated?
The Premium Solar Feed-in Tariff scheme is a net metered scheme. This means that a household's total electricity consumption is offset against the total electricity generated by its solar panels. This is calculated every half hour, with the premium tariff paid for every excess kilowatt of energy fed back into the grid.
In order to accurately measure a household's net electricity generation, your electricity company will most likely move you to peak and off-peak pricing for your electricity. Check with your retailer to see what changes you can expect to see on your bills, particularly if you have any dedicated off-peak loads.
How long does the premium solar feed-in tariff scheme run for?
Fifteen years from 1 November 2009 – so signed-up eligible customers will receive the premium solar feed-in tariff until 1 November 2024. Once the scheme ends in 2024, retailers are no longer obliged to pass on these credits – check the terms and conditions in your contract for a related clause.
View the Scheme Closure page for information about the closure and accessing the Premium Rate.
Page last updated: 30/03/20