Solar Feed in Tariffs

What are solar feed-in tariffs?

Solar feed-in tariffs (FITs) are the amount you get paid by your energy retailer for the excess energy your solar system exports back into the grid.
During the day your solar power system should most likely generate more power than is being used in your home. This means that if you have a grid-connected solar system, the energy is fed back into the grid and your energy retailer will pay you a fixed amount per kWh of energy that you send to them.

How much does solar cost?

The cost of installing a solar system can vary widely and is affected by a range of factors such as where you live, the warranties available, and the technology and size of your system.
The major factors which will affect the price of a solar system are:

  • government rebates and incentives
  • contractor installation costs
  • type and number of panels
  • type and size of the inverter
  • type of framing equipment and other system components
  • roof type, height and accessibility
  • any after-sales service agreements

Your solar installer works with you to get the best value for money to suit your needs.
If you are lucky enough to live in Victoria and qualify for the Solar Homes Program you are entitled to an additional $2225 rebate.

Return on investment

The return on investment (ROI) period for your solar system can vary quite a lot depending on the size of your system, where your property is located and how you use your power at home. As a general rule, you can expect a quality solar system to pay for itself within 3-6 years in Australia. Your solar installer will provide energy calculations and a breakdown of your expected ROI during the quotation process.