More electricity retailers are offering to pay Queenslanders more for their excess solar power.
But higher feed-in tariffs (FiTs) don’t necessarily mean lower overall power bills, the independent Queensland Competition Authority (QCA) has warned in its latest report.
Energy Minister Dr Anthony Lynham said QCA’s 2018 solar FiT report for south east Queensland showed retailers were offering households and small business average FiTs over 50 per cent higher than the previous year.
“The growth in the solar market is now stimulating a wide range of FiTs from retailers, giving consumers the power to choose the FiT that best meets their needs,” Dr Lynham said.
“However, I strongly encourage consumers and small business to do the research and shop around to find the best offer for their overall needs.
“The QCA report is designed to help you with that research, because it models different levels of use and solar FiTs to see how they might impact different types of customers.”
The QCA report released today shows that 16 retailers were offering average FiTs of 11 cents per kilowatt hour to households and 13 retailers an average 10.2 cents per kilowatt hour to small business.
The Solar Bonus Scheme was introduced in 2008 and closed to new applicants in 2012. Around 159,000 households are on the scheme, and more than 200,000 solar systems have been installed since it closed.
“The Solar Bonus Scheme was an effective catalyst in establishing a solar industry in Queensland and delivering an estimated $2 billion worth of private investment in solar from households and small business,” Dr Lynham said.
“The forecast trajectory shows the uptake of solar will continue to rise in Queensland and that means power bill savings, and more renewable energy going back into the grid for everyone’s benefit.
“The Palaszczuk Government is right on track to reach our targets of 3000 megawatts of solar photovoltaics (PV) by 2020 and 50 per cent renewable energy target by 2030 as we transition to a clean energy future.”
QUICK SOLAR FACTS
One in three Queensland households has a solar system.
A new solar system is installed somewhere in Queensland every 15 minutes.
Queensland’s biggest “power station” is its 2000-plus megawatts of installed rooftop solar systems.