There is a bewildering number of feed-in tariffs and energy plans on the market, so whether you’re about to go solar or whether you’re planning to switch provider and plan, here are the best five FITs to be had in QLD.
Just before we dive in, however, it helps to know how to identify the best FIT for you and your lifestyle. Follow these tips.
Work out how much energy you use and export
You need to keep an all-year-round record of your usage and export so you can find the best all-round deal. It’s great when you’re exporting more in summer, but what about when it’s winter and you’re buying more than you export? You need to find the right balance between your tariff and your buy-in rate so you come out on top at the end of each year.
Read the small print
Some attractive-looking tariffs and plans have a dark side. You may be limited to a particular size of system, for example, with systems over 10kW being affected most often. This can lead to your energy retailer “adjusting” your bill – and not to your benefit.
There may also be export limits which cause your tariff to decline after you’ve exported a certain amount of power or a certain amount of time.
You might have to have a retailer-installed system to get the best FIT. This is fine if you have one, and not so fine if you don’t.
Be ready to switch when necessary
Many plans and FITs “go off” after a year or two and for the serious deal-hounds among us this isn’t a problem. If you find it stressful or impractical to search down the next big deal, then you could see some diminishing returns from your solar system.
Make sure your retailer adds their FIT to your state government tariff
Some retailers add their own FIT on top of your government tariff, which is great news for you. Others include the governmental FIT and make up the difference to their advertised rate, which isn’t great for you. Keep an eye out for this.
Watch out for exit charges
Some energy retailers hang onto solar credits on the accounts of switching customers, so if you’ve accumulated a tidy sum, make sure you get hold if it before you go. Exit fees like this are unusual, thankfully, but if you do get caught out by one, it can sting.
You’ll have to supply the drumroll sound effect yourself, but nevertheless, here are the five best feed-in tariffs available to QLD solar customers.
Social Energy offers customers with the Better Together plan a high FIT of 40c/kWh. This deal requires suitable batteries and connection to a VPP. The high FIT applies to the first 300kWh of each quarter, after which the standard rate of 8.3c/kWh applies. The Basic Plan offers a fixed rate of 8.3c/kWh as well.
Mojo Power has the G’Day Sunshine tariff, which has a maximum rate of 18c/kWh for the first 5kWh exported to the grid, after which the rate drops to 5c/kWh. Other tariffs include the Single Minded, Common Ground and All Day Breakfast Energy plans, which each have a fixed rate of 5c/kWh.
Discover Energy has its Solar Smart plan, which offers 16c/kWh for the first 300kWh each quarter, after which it reverts to 10c/kWh. All of Discover’s other plans are fixed at 6c/kWh.
AGL offers customers a fixed rate of 12c/kWh on the Solar Savers with VPP (requires a Powerwall 2 or LG Chem and system of no more than 10kW) plan or Solar Savers. Its standard rate for other plans is 6c/kWh.
Dodo offers a fixed, flat rate of 8.5c/kWh for customers on both its Residential Market and Standing Offer energy plans.