Effective midnight Wednesday, the ACT Government announced the closing of the ACT Solar Feed In Tariff. The demise of the program has been described as a disaster by everyone involved in the Solar Industry.
When cancelled, the rate to be offered was 30.16 cents per kilowatt hour.
In it’s place is a 1:1 system where ACTEW will buy the electricity produced by a system at the current tariff rate.
John Payne, Director of Enviro Friendly said today, “If we calculate that electricity prices will rise at 10% a year- probably a conservative figure- then a customer would make 54% more income over the same 20-year period as the FIT contract operates.”
Mr Payne also pointed out that in the six weeks since the original closing off of the FIT, solar panel prices have come down. “Our panel prices have come down over 10%, so we can now offer customers even better system prices. Now is an excellent time to buy solar panels.”