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Best Solar Feed-In Tariff – VIC | Our Complete Homeowners Guide

Best Solar Feed-In Tariff – VIC

Victoria is loaded with energy providers, each with their own set of feed-in tariff rates. So many that it can be hard to choose which one you should go with.

But what are feed-in tariffs anyway? What electricity retailers am I talking about? And which ones are the best for your home and solar system?

I’m answering all of those concerns here. If you already know what feed-in tariffs for solar panels are, though, feel free to tap on any of the bullets below to skip sections.

What are solar Feed-in Tariffs?

Solar feed-in tariffs, or just FiT for short, are credits that electricity retailers give you for exporting your excess solar energy to the grid. These credits, in turn, will be deducted from your electricity bills and lower, well… your bills.

Victoria has also had a couple of feed-in tariff types:

  1. Premium feed-in tariff (PFiT)
  2. Standard feed-in tariff

Premium feed-in tariffs are valued at 60 c/kWh minimum. Mind you, that’s really, really high. Unfortunately, they’re no longer offered since 2011. But if you were one of the lucky ones and are just looking to switch energy retailers, they should still honor it until the scheme ends in 2024.

Standard feed-in tariffs, on the other hand, are what’s offered today. As of writing, the minimum feed-in tariff rate in Victoria is set to 4.9 c/kWh. Way lower than the premium, yes, but there are a handful of energy retailers with plans that have higher-than-standard rates.

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Overview of energy retailers in VIC and their FiTs

All of the information written below is accurate as of writing. However solar feed-in tariff rates are subject to change at any time. Make sure to check the retailer’s website for the most up-to-date information.

Electricity retailerMinimum feed-in tariffMaximum feed-in tariffsOther notes and conditions
1st Energy4.9 c/kWh4.9 c/kWh
AGL4.9 c/kWh15 c/kWhTheir 15 c/kWh FiT rate is only for their Solar Savers Plan. It also only applies to the first 10 kWh of daily export (which is a lot). After that, your FiT goes down to 4.9 c/kWh.

The 4.9 c/kWh rate also applies as a single rate export for their AGL value-saver plan.
Alinta Energy4.9 c/kWh4.9 c/kWh
CovaU4.9 c/kWh4.9 c/kWh
Diamond Energy Pty Ltd5.2 c/kWh5.2 c/kWh
EnergyAustralia4.3 c/kWh11.7 c/kWhThey have a single-rate FiT and a time-of-use FiT. Their single rate FiT is 5.4 c/kWh and applies to retailer FiTs. If you choose their time of use FiT rates, it’s 11.7 c/kWh for peak hours, 6.1 for shoulder hours, and 4.3 for off-peak hours.
Flow Power4.9 c/kWh4.9 c/kWh
Kogan Energy5.2c/kWh5.2c/kWh
Lumo Energy4.9 c/kwh5.5 c/kwhThe rate depends on the plan. Their Basic and Plus plans have the 5.5 rates c/kwh; their Standing Offer has the 4.9 c/kwh
Origin Energy4.9 c/kWh12 c/kWhThe 12 c/kWh applies to their Origin Solar Boost plan and applies to the first 14 kWh of energy exporter. The 4.9 c/kWh rate follows afterward.

Their other plans, Origin Go Variable and Origin Go Solar Variable, have maximum FiT rates of 4.9 c/kWh and 8 c/kWh respectively.
Pacific Blue Retail4.9 c/kwh4.9 c/kwh
Powershop Australia5.2 c/kwh10.62 c/kwhThe 5.2 c/kWh is a flat rate for new customers under their Switch Saver and Power Offset plans. The 10.62 c/kWh rate is their super off-peak rate and is only for their existing customers under their Power Drive plan.
Red Energy4.9 c/kwh7 c/kwh
Simply Energy4.9 c/kwh11 c/kwh
Tango Energy4.9 c/kwh4.9 c/kwh

Top 5 solar Feed-in Tariffs in VIC

Presentation featuring the foremost 5 solar feed-in tariffs in Victoria
A presentation featuring the Top 5 solar feed-in tariffs in Victoria

Note that the list below is based on the maximum feed-in tariffs offered by the energy providers. This list should not be the only factor you consider when choosing the electricity retailer for your home.

1. AGL

  • Minimum FiT: 4.9 c/kWh
  • Maximum FiT: 15 c/kWh

AGL is among the largest energy providers in Victoria and all of Australia. At 15c/kWh, they also have the highest feed-in tariff rate of all the energy companies in the area.

The catch is that the 15c/kWh rate only applies for the first 10 kWh of daily export for their Solar Savers Plan customers. After the first ten, the rate rolls back to the standard 4.9 c/kWh.

The good news is that if your solar installer sized your solar system appropriately, you likely won’t even have 10 kWh of excess electricity because your system matches your home’s energy usage.

AGL has another plan called the Value Saver Plan. That plan uses the minimum feed-in tariff rate as their single-rate export. Meaning, you’re credited 4.9 c/kWh no matter how much energy you export.

Recommended: 7 fool-proof tips for choosing a solar installer

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2. Origin Energy

  • Minimum FiT: 4.9 c/kWh
  • Maximum FiT: 12 c/kWh

Origin Energy is right up there with AGL as one of the largest energy providers in the country. And, at 12 c/kWh, their feed-in tariff rate ranks second in Victoria.

What Origin Energy has over AGL, though, is that their maximum rates apply to the first 14 kWh of daily export. So if your excess energy exceeds 10 c/kWh, this is the better deal. Likewise, the feed-in tariff rate rolls back to the minimum after the daily export limit.

The 12 c/kWh maximum also only applies to their Origin Solar Boost plan. Their other plans, Origin Go Variable and Origin Go Solar Variable, have maximum FiT rates of 4.90 c/kWh and 8 c/kWh respectively.

3. EnergyAustralia

  • Minimum FiT: 4.9 c/kWh
  • Maximum FiT: 11.7 c/kWh

Yup, you guessed it. EnergyAustralia is among the top 3 largest energy providers in AU. Their 11.7 c/kWh max feed-in tariff rate also ranks 3rd in VIC.

They offer 2 types of solar feed-in tariffs:

  1. Single rate feed-in tariff, and
  2. Time of use feed-in tariff

Their single rate FiT applies to retailer FiT and is valued at 5.4 c/kWh. Fairly low but that’s still higher than the standard.

If you choose their time of use FiTs, though, the value of your feed-in tariff depends on the time of day.

  • 11.7 c/kWh for peak hours (4 pm-9 pm)
  • 6.1 c/kWh for shoulder hours (9 pm – 10 am; 2 pm – 4 pm)
  • 4.3 c/kWh for off-peak hours. (10 am – 2 pm)

4. Simply Energy

  • Minimum FiT: 4.9 c/kWh
  • Maximum FiT: 11 c/kWh

While it’s not as big as the previous energy providers on this list, Simply Energy is still among the largest electricity retailers in Victoria. And, I must say, their 11 c/kWh maximum feed-in tariff rate is just as impressive.

Having said that, they have many electricity plans available for Victorians. Their Simply Solar plan, in particular, is what offers the high 11 c/kWh feed-in tariff rate.

They have the time of use and single-rate solar feed-in tariffs, too. What’s weird is that the fact sheets for both types have their rates listed at 11 c/kWh. No detail lists the rate change during off-peak and shoulder hours. There’s no mention of a daily export limit either.

This could mean that the 11 c/kWh is offered as a flat rate – which makes this plan ridiculously good. Or that, well… they just don’t have the information on their website. Either way, ask about the details before you sign any contract.

5. Powershop Australia

  • Minimum FiT: 5.2 c/kWh
  • Maximum FiT: 10.62 c/kWh

Powershop Australia holds a small portion of the energy market share in Victoria but, from what we’ve gathered, they also have many a satisfied residential customer. Both of their feed-in tariff rates are impressive, too, with their minimum FiT being higher than the standard.

Their maximum feed-in tariff rate of 10.62 c/kWh is their super off-peak rate and is only offered to their existing customers who have EVs (electric vehicles) and are under their Power Drive Plan.

The 5.2 c/kWh rate, on the other hand, is a flat rate for new customers under their Switch Saver and Power Offset Plans.

Conclusion

In summary, the best feed-in tariffs for your solar system in VIC come from 3 of the largest energy companies mixed in with 2 smaller ones. In order of their maximum feed-in tariff rates, these are AGL, Origin Energy, Energy Australia, Simply Energy, and Powershop Australia.

However, and forgive me for saying this again, but feed-in tariffs shouldn’t be the only factor in your quest for an energy retailer to side with. Consider the whole picture and check their customer service, billing, contract terms and conditions, as well as other things that could shape your overall experience.

Now, if you don’t have a solar system yet, we have a network of pre-vetted solar installers that are ready to help. We’ll get you 3 FREE quotes from them right away. All you need to do is ask.