The solar feed-in tariff is an excellent way to maximise the use of renewable energy sources, reduce electricity bills, and positively impact the environment. You can get paid for your solar panels’ energy with feed-in tariffs. This can be a great way to save money on your electricity bills. But, if you want to escalate your solar feed-in tariff returns, there are a few things you should consider.
The Victorian Government is offering an incentive for households to install solar panels and receive payments for the excess electricity generated- known as the solar feed-in tariff (FiT). If you want to get the best of your FiT, here are 9 tips to ensure you accelerate your returns.
9 ways to make the most of your solar feed-in tariffs
Solar FITs can save money and support the climate. Here are seven tips to help you maximise your solar feed-in tariff VIC and get extreme benefits.
1. Understand the feed-in tariff rates
Your utility company typically sets feed-in tariffs. The amount of money you get paid for the energy produced by your solar panels will depend on the rate set by your utility company. Make sure you understand the feed-in tariff rates that your utility company is offering.
2. Choose the right solar system
Different types of solar systems generate different amounts of energy. Therefore, it is vital to choose the right plan for your needs. Consider the system’s size, the panels’ efficiency, and the power you need to select one.
3. Monitor your energy usage
By knowing how much energy you use, you can adjust your usage. During peak times, you may want to consider using your solar energy before flipping the switch to other sources of electricity.
4. Install a solar battery
Solar batteries allow you to store the excess energy that your solar panels generate. This means you can use the stored energy at night or on cloudy days instead of relying on your grid-supplied power.
5. Take advantage of time-of-use tariffs
Time-of-use tariffs are feed-in tariffs where you get paid more for energy produced at certain times of the day. Many utilities offer time-of-use tariffs to help you get a better return on your energy by making it when the rates are higher.
6. Consider other incentives
In addition to feed-in tariffs, there may be other incentives that you can take advantage of. Depending on where you live, you may be eligible for rebates or other incentives to help you make the most of your feed-in tariff returns. Check with your utility company to find out what incentives are available.
7. Net metering
It is a system that allows you to sell the excess energy that your solar panel system generates back to the electricity grid. This can be a great way to expand your solar feed-in tariff returns.
8. Stay up-to-date on changes
Finally, it is essential to keep up-to-date with any changes in your feed-in tariff as they change over time. So, stay aware of any changes that may affect your returns. Pay attention to any announcements from your utility company to ensure you take advantage of the best rates available.
9. Consider a solar panel lease or instalment plan.
If you need more time to be ready to purchase a solar panel system outright, look into leasing or instalment plans for solar panel systems. These plans allow you to pay for the solar panel system in monthly instalments, which can help you to save money in the long run.
Conclusion
Understanding your options and maximising your returns will help you get the most out of your solar energy system. Make it possible with the help of a reliable and knowledgeable solar installer. Not only will you take advantage of a great opportunity, but you will also be helping the environment and saving money in the long run.