SOLAR NEWS UPDATE
There are reports that there may be changes to the Victorian Feed in Tariff in the next couple of months and that people should ‘Get in before it is too late.’
On 27 July 2012 the Victorian Competition and Efficiency Commission (VCEC) presented its final report to the State Government giving recommendations as to the future of this state’s solar feed in tariff. The inquiry commenced on the 13th of January 2012 and the Government is rumoured to be announcing its decision in the next couple of months.
Any customers who currently go on the Transitional Feed In Tariff (TFIT) receive a minimum 25 cents per kwh for their excess solar power and are locked in until the end of 2016. Eligibility for this was to continue until the scheme reached a capacity of 75 megawatts, which analysts predicted would be around the end of 2013.
However an early draft report in May from the Commission suggested that this capacity will be reached much earlier than predicted and also that the TFIT should not continue to be offered after the capacity is reached. Some suggestions were that a feed in of just 8 cents per kilowatt hour should be offered in the future for surplus solar power like in Queensland. This suggestion was met with protest from the renewable energy industry.
So what is the verdict? The Victoria Treasurer said they will publicly release the final report and the Government’s response within six months, which leaves us all pondering about the future of solar.
Our response is simple ‘Get in now, before you miss out!’
