Believe me, there are so many reasons why it’s a great idea to install solar panels if you live in New South Wales. The rising cost of electricity and the abundance of sunshine, for one, should be good enough to at least consider the switch.
You know what else makes it great, though? Government incentives. One of these are feed-in tariffs from energy retailers, and NSW has one of the best feed in tariff varieties in all of Australia. So let’s talk about it.
Listed below are all the topics we’re covering today. Feel free to tap on any of the bullets if you want to skip sections. Otherwise, let’s get started!
- What is a solar feed-in tariff in NSW?
- Energy retailers with solar feed-in tariffs in New South Wales
- Our top 5 picks for solar feed-in tariffs
What are solar feed-in tariffs?
Let’s assume your home already has a solar system generating an ample amount of solar power. (By the way, if you don’t have solar panels installed, we have a network of pre-vetted solar installers ready to help at a moment’s notice, but let’s not get sidetracked.)
Your solar panels are generating so much solar power, in fact, that you’re not able to use them all. Instead of all that green energy going to waste, the excess gets sent back into the grid via net metering, where your energy provider pays you credits instead.
These credits are what’s known as solar feed-in tariffs (FiT), and they’re used to further reduce your electricity bills.
As previously stated, New South Wales offers some of the most variety in terms of energy providers. It can all be confusing sometimes, so here’s an overview:
Recommended: Solar panel rebates in NSW
Get 3 Solar Quotes From Quality Local Installers.
Energy Retailers and Their FiT Rates in NSW
| Energy Retailer | Maximum feed-in tariff (c/kWh) | Minimum feed-in tariff (c/kWh) | Other notes and conditions |
|---|---|---|---|
| 1st Energy | 6 | 6 | |
| AGL | 15 | 7 | 15 c/kwh for the first 10 kwh of daily export; rolls back to 7 c/kwh thereafter. The 15 c/kwh rate only applies to the AGL Solar Savers plan. |
| Alinta Energy | 6.7 | 6.7 | |
| CovaU Energy | 5.5 | 5.5 | |
| Diamond Energy | 5.2 | 5.2 | |
| Energy Locals | 5 | 5 | |
| EnergyAustralia | 7.6 | 7.6 | |
| Future X Power | 3 | 3 | |
| GloBird | 5 | 5 | |
| Kogan Energy | 5 | 5 | |
| Momentum Energy | 7 | 7 | |
| Nectr | 0 | 0 | |
| Origin Energy | 12 | 7 | 12 c/kWh only applies to their Origin Solar Boost plan and only for the first 14 kWh of export. |
| Ovo Energy | 12 | 7 | 12 c/kwh applies to the first 4000 kWh of energy exported per year. It rolls back to 7 c/kWh thereafter. |
| Powershop | 5 | 5 | |
| Red Energy | 12 | 6 | 12 c/kwh only applies to their Red Solar Saver plan and only for the first 5 kWh of export. The 6 c/kWh rate only applies to their standing offer. All other plans have a flat rate of 7 c/kwh. |
| Simply Energy | 12 | 5.5 | The 12 c/kwh rate only applies to their Simply Solar plan. All other plans have the 5.5 c/kwh flat rate. |
| Tango Energy | 0 | 0 |
The 5 Best Feed-in Tariffs in NSW (2024)
1. AGL
- Maximum solar feed-in tariff: 15 c/kWh
- Minimum solar feed-in tariff: 7 c/kWh
AGL is one of Australia’s oldest energy companies and stands as the third largest electricity retailer in New South Wales, servicing more than 800,000 homes. That’s roughly 24% of the NSW residential market.
AGL also has a focus on sustainable energy solutions, so it comes as no surprise that it offers the highest maximum feed-in tariff in NSW of 15 c/kWh.
Although this high rate is applicable to their Solar Savers Plan and only to the first 10 kWh of excess energy you send back to the grid (which is a lot, by the way). After that, this rate rolls back to 7 c/kWh. All other plans also have 7 c/kWh as a flat rate.
2. OVO Energy
- Maximum solar feed-in tariff: 12 c/kWh
- Minimum solar feed-in tariff: 7 c/kWh
OVO is a relatively newer energy provider, and it’s not nearly as large as AGL, or the rest of the electricity retailers in our top 5, for that matter. This isn’t stopping OVO from offering one of the best solar feed-in tariffs in all of New South Wales, though.
Their generous 12 c/kWh maximum FiT rate applies to the first 4000 kWh of excess energy you export per year. It rolls back to 7 c/kWh thereafter.
This yearly limit sets it apart, as most other energy providers set daily limits instead.
Get 3 Solar Quotes From Quality Local Installers.
3. Origin Energy
- Maximum solar feed-in tariff: 12 c/kWh
- Minimum solar feed-in tariff: 7 c/kWh
Origin Energy stands at the forefront of the New South Wales energy market, with close to a million customers in NSW alone. For context, that’s almost a third of the state’s market.
In terms of incentives, Origin Energy also offers one of the best feed-in tariffs at a maximum of 12 c/kWh. This feed in tariff rate applies to their Origin Solar Boost plan and only for the first 14 kWh of excess energy generated by your solar system.
They also have other plans. Their Origin Go Solar Variable plan has a flat rate of 10 c/kWh, while their Origin Go Variable has a flat rate of 7 c/kWh.
4. Red Energy
- Maximum solar feed-in tariff: 12 c/kWh
- Minimum solar feed-in tariff: 6 c/kWh
As of writing, Red Energy isn’t one of the tier 1 electricity providers in Australia. This means it’s not as large a company as AGL, Origin, and EnergyAustralia. Still, many of its customers think it’s the best solar energy provider simply based on its high maximum FiT.
True enough, a max FiT of 12 c/kWh rivals the likes of Origin and OVO. This rate applies to their Red Solar Saver plan.
The reason we’re ranking it 4th, however, is that this rate only applies to the first 5 kWh of export. That’s much less than both OVO and Origin, who rank 2nd and 3rd on our list, respectively.
The 6 c/kWh rate applies to their standing offer, while other plans have a flat rate of 7 c/kWh.
5. Simply Energy
- Maximum solar feed-in tariff: 12 c/kWh
- Minimum solar feed-in tariff: 5.5 c/kWh
Simply Energy is even smaller than Red in terms of market share, but, out of all of the electricity providers in NSW, Simply Energy has one of the best solar feed-in tariffs in NSW.
Like OVO, Origin, and Red, Simply Energy has a maximum FiT of 12 c/kWh. This rate also applies to their Simply Solar plan.
Their minimum FiT, which applies to their other plans, isn’t something to write home about, though.
Conclusion
With all the options available to the residents of NSW, it understandably can be hard to pick the best solar energy provider, especially after considering the wide variety of feed-in tariffs.
Armed with the right information, however, it can be much, much easier.
So, to recap, AGL has the best solar feed-in tariff in NSW at a maximum of 15 c/kWh. OVO, Origin, Red, and Simply Energy all have max feed-in tariffs of 12 c/kWh, but what separates them from each other are their minimum rates.
Although, remember that choosing your provider shouldn’t rely solely on their feed-in tariffs. Consider the whole picture, including their customer service and all other things that can influence your experience with them.
Now, if you’re ready to make the switch, we have a network of solar installers that we trust with our own solar systems. Just let us know if you need help, and we’ll get you three free quotes from them.
