As of April 1 2019, the Government closed the Feed-in-Tariff to new applications looking for subsidies for extra electricity generated from solar panels.
Residents who are not already part of the scheme can no longer receive subsidies for the extra electricity generated by solar PV.
Those that are already part of the scheme will not be affected by this change in policy and can still receive a subsidy per kilowatt of electricity generated regardless of whether it is exported or not.
The end of the scheme, in part, is a result of technology maturing to the point where it became much cheaper and solar PV became a financially viable option without subsidies.
The scheme also had a restriction in funding in the years leading up to its closure, with payment rates reducing and becoming less attractive to consumers.
Could the Smart Export Guarantee replace the Feed-in-Tariff?
The Government announced in June 2019 that the new Smart Export Guarantee will reward homes that put their excess renewable energy into the grid with payments.
From January 1st 2020, energy companies with more than 150,000 customers now have to offer a tariff to buy excess renewable electricity from households generating it.
This will include all forms of household generated renewable energy, not just solar panels.
Energy suppliers are able to set their own prices, so households will need to identify the companies offering the best deals.
The amount of electricity put back into the grid will only be calculated by smart meters, therefore these will be a requirement for those wishing to take part in the scheme.
Generate your own electricity from the power of the sun
Solar PV systems are one of the most popular renewable energy technologies. They provide a constant flow of free renewable electricity all year round, which can really help you slash your energy bills.
What’s more, thanks to the Government's Smart Export Guarantee you may be able to generate income from all of the home-grown electricity your system produces. Not only will you reap the benefits of a greener and more energy efficient household, but you could get paid for utilising your own renewable energy.
Generate FREE home grown electricity all year round
Get paid for the energy you produce through the Smart Export Guarantee