It’s all good news for NSW customers who’ve installed solar energy, or will install it within the next few months. The NSW Govt released draft legislation a few hours ago following the remarkable and highly generous announcement earlier this week of a Gross Feed In Tariff that is on par with that best in the world, including Germany.
The scheme will be reviewed after 50 megaWatts of solar or wind has been connected to the grid by “small retail customers”. These include all homeowners, holiday homes, rental properties, farms and businesses who have an annual use of under 160megaWatt hours – the average home uses only around 7megaWatthours.
Given that 8megaWatts of solar energy has already been connected to the NSW grid within this category, the 50megaWatt threshold for review will likely be reached within a matter of months, so we’re advising all our NSW customers to install solar power as soon as possible to ensure their entitlement to the 60c gross feed in reward.
Please click here to see the draft legislation that has just been released.
The premium rate of 60c per kwH applies for installations up to 10kW (approx 60panels, 80square meters of roof space, generating 45kW hours per day, or $27 per day or $9,855 per year).
The scheme will operate on a net basis from 1 Jan 2010 to 1 July 2010, the transition day, and then gross at 60c per kWh after then.
The transition day of 1 July 2010 allows time for the meters to be switched to a gross setting.
Retail Energy Providers are obliged to pay for credit.
Solar Choice Pty Ltd
© 2009 Solar Choice Pty Ltd
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