Vic Solar Feed In Tariff Dropped

The ESCV has announced a 34% reduction in the minimum single feed in tariff (FiT) for solar in Victoria. The new minimum FiT is 6.7c/kWh, down from 10.2c/kWh. The decrease is mainly due to the continued fall in wholesale electricity prices. See https://www.esc.vic.gov.au/electricity-and-gas/prices-tariffs-and-benchmarks/minimum-feed-tariff/minimum-feed-tariff-review-2021-22 for full details.

Bottom line is that as this level of FiT, it is best to use as much of the electricity generated as possible (rather than export), as there is little value in solar export. Sizing the system to suit consumption becomes more important along with avoiding oversizing the solar installation. Putting excess into a battery is another option but this is still a long payback option.