OK – everyone with panels on their roof knows about the FiT (Feed in Tariff)
If you were an early adopter the State Government made sure that you were able to sell your surplus solar power for at least the same amount as you paid for power – the retail price. This got solar going but it was a subsidy from your taxes.
More recently, if you installed solar, your surplus power is bought at a fixed, low, figure that matches the wholesale price of power on a good day.
A truer reflection of the value of your power would take account of other things. The wholesale price fluctuates. Some hot days it gets quite high. Shouldn’t your FiT go up on those days? You live, and generate, a long way from the big power stations. Your power is available, nearby, without the large losses and costs of long-distance transmission (as much as 15%) Does that not mean your FiT should reflect where you live? Also you feed less carbon dioxide into the atmosphere. Is that not worth something?
All of these are being considered by the State Emergency Services Commission (ESC) Read their draft report, pay particular attention to the questions they raise in “Box 7.1” and consider making a submission before June 6th.
Submissions should be marked Submission to Draft Report (Energy Value) of Distributed Generation Inquiry, and sent by email to: DGInquiry@esc.vic.gov.au.