NSW Gross Feed In Reward Scheme – install within the next few months to guarantee your inclusion in such a generous scheme

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.

Angus Gemmell
Managing Director
Solar Choice Pty Ltd

© 2009 Solar Choice Pty Ltd

Comments

  1. I have heard that the NSW govt is turning the 60c cash payments into credits that you can claim against your energy bill only. Is this really the situation?

    1. Hi Richo,

      What you have heard is not quite correct. Here is what the FAQ page of the NSW Solar Bonus Scheme has to say:

      “All electricity retailers are required to provide eligible customers with either a Solar Bonus Scheme credit on their electricity bill or a cash payment representing this amount. How a customer receives their Solar Bonus Scheme benefit is at the discretion of the retailer.”

      So although it appears possible that an electricity retailer could pay you only in credits you can claim against your bill it is certainly not the only way allowed by the legislation. Indeed, if your electricity retailer tells you they will only pay you in credits and not in cash, then you should consider switching retailers, as most will pay cash. For a list of the energy retailers providing the feed in tariff please see our article “Which electricity retailer is giving the best solar feed in tariff?

      Kobad Bhavnagri
      Solar Energy Consultant
      Solar Choice Pty Ltd

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