Let me give it to you straight. Tasmania? Not a lot of options when it comes to energy retailers. At least not compared to some other Australian states like New South Wales and Queensland.
Does that mean TAS has it bad when it comes to feed-in tariffs? Heck no! Tasmanians enjoy some of the highest standard rates in the entire country.
Having said that, let’s run it down and talk all about the best solar feed-in tariffs Tasmania has to offer. Listed below are the topics I’m covering. If you feel like skipping a section, feel free to tap on any of the bullets. Let’s go!
What exactly is a solar feed-in tariff?
A solar feed-in tariff (FiT) is a credit given to a home with a solar panel system to further reduce its power bill. This credit is given as an incentive for homes that export their excess solar power to the grid.
So, let’s say, for example, that your home uses 640 kWh of electricity per month, but your solar panels are pushing out 700 kWh of power. That means you have 60 kWh of excess electricity to send back to the grid, which, in exchange, you get credits for.
The value of these feed-in tariffs is different for different providers, but the minimum feed-in tariff rate is set by the Tasmanian Economic Regulator every year.
As of right now, the standard set by the regulator is 10.869 c/kWh. That might look small to you, but that’s so much higher than the minimum rate in other Australian states. This brings us to the next part of our discussion.
Recommended: Net metering—What makes feed-in tariffs possible.
1st Energy has the best solar feed-in tariff in TAS.
- Maximum feed-in tariff: 12 c/kWh
- Minimum feed-in tariff: 10.869 c/kWh
Up until 2019, Aurora Energy (another electricity retailer you’ll find on this list) was the only retailer in Tasmania. It wasn’t until 1st Energy emerged as its competitor that it changed.
Now, 1st Energy boasts the highest maximum feed-in tariff rate in all of TAS.
However, their high 12 c/kWh only applies to their 1st Solar Bonus plan. What makes this such a good deal is that it’s a flat rate. That means it doesn’t matter how much extra solar power you send to the grid or at what times, you will still get the full 12 c/kWh.
Their other plans, the 1st Plus and the ACT Saver, have the 10.869 c/kWh standard as a flat rate as well.
Other electricity retailers with feed-in tariffs in TAS
There are four other electricity providers in Tasmania:
Aurora Energy, Energy Locals, and CovaU all have the same FiT rate.
If all you’re after is getting the highest FiT rate, it doesn’t matter if you choose Aurora Energy, Energy Locals, or CovaU Energy.
All three of them have the standard 10.869 c/kWh as a flat rate, after all. That is, of course, given that your solar panels are eligible for their plans.
Each of these retailers has their own eligibility criteria, so I highly recommend you check out their respective websites.
Localvolts has peer-to-peer trading instead of solar feed-in tariffs.
The reason Localvolts isn’t going the feed-in tariff route is the declining FiT rate, which is absolutely true. Feed-in tariffs have consistently been dropping for the past few years, so it really makes more sense to either maximize your own power usage or invest in a solar battery.
Instead, they’re introducing what they call peer-to-peer trading, which is you selling your excess solar energy to anyone in the market, not just the retailers. This lets you decide your own price.
If you want to sell your solar energy at 20 cents per kilowatt hour to your next-door neighbor, you can do that. If you want to let the Localvolts app find you the best deal, you can do that, too.
To sum it up, Tasmania has some of the highest feed-in tariffs for any home with a solar panel system. The standard of 10.869 c/kWh is about twice as high as in other states.
The downside is that there aren’t many choices for retailers. And, aside from 1st Energy’s 12 c/kWh maximum, all other energy providers (except Localvolts) offer the standard rate as their flat rate.
Localvolts is a bit different. They don’t have feed-in tariffs. They have peer-to-peer trading instead, which is an entirely different thing.
Now, are you ready to make the switch? If you are, we have a network of pre-vetted solar installers ready to give you 3 FREE quotes right away.