New Transitional Feed-in Tariff

The Victorian Government has announced a new 'transitional feed-in tariff' (TFIT) for rooftop solar.

- The TFiT will be set at 25c/kWh from 1 January 2012 for PV systems of 5kw or less. The tariff will last 5 years from the scheme’s commencement.

- People who have already paid a deposit or are already having solar systems installed must make sure all the required paperwork has been submitted before September 30 to receive the existing premium feed-in tariff.

- The Minister has noted “Given it can take up to several months to complete the required steps, it is very unlikely that people purchasing a solar system from today will have enough time to qualify for the premium rate”.

- Customers will also need to have an agreed Premium Feed-in Tariff contract with their electricity retailer.

- The Victorian Competition and Efficiency Commission will begin reviewing the feed-in tariff later this year.

SolarSpec has advised that the changes are not retrospective and all existing contracts will be honoured.