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NSW announces gross feed-in tariff
Great news for the residents of New South Wales. Anyone with a solar power system (up to 10kW in size) will be able to sell ALL the electricity they generate into the state’s power grid and receive 60 cents per kilowatt hour. This gross feed-in tariff matches the scheme in the ACT, whereas all other states (except NT) operate or plan to operate a net feed-in tariff. Under a net feed-in tariff, only surplus power can be sold into the grid.
If you install a 1.6kW solar system in NSW, in theory you will receive 96 cents for every hour the sun shines on the panels. To be conservative, let’s say that is on average for 5 hours every day but that losses and inefficiencies account for 10% of the power. That adds up to 86 cents x 5 hours x 365 days = $1570 per year that you would be paid.
The Solar Bonus Scheme starts in January 2010 and will run for seven years.
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