Over the past few years, electricity prices have been increasing from Melbourne to Moe and other areas. This is definitely not a good thing for Victorians. However, if you live in Victoria, then this should not worry you too much. This is because, there is a way you can reduce your expenses on electricity by using solarPV. Though they don’t get as much sun is those north of the border, many Victorian residents are already very excited about creating their own energy through solar power systems.
Federal Solar Incentive
Through Renewable Energy Target Scheme (RET), Federal Government has greatly reduced the cost of solar systems according to energy produced. For each panel you purchase, a discount will be offered. The discount will depend on the type of system purchased; the higher the output, the bigger the discount. This is surely a great way to attract Victorians towards investing in Solar energy systems to generate electricity. However, keep in mind that RET is currently under review; the results could be very favorable and therefore it’s a great idea to think about this project.
Victoria Feed in Tariff
You will receive 8 cents per kWh for any surplus electricity fed back into the grid. This means your investment will now pay off even more in the future. Invest in the “big green” today and you will definitely see great returns on your investment. This has proved be one of the best investment projects in Australia.
Rise of electricity bills in Victoria
During the 2012/2013 financial year, electricity prices rose from 8.2 to 14.8%. This rise was experienced across 5 Victoria distribution areas. Prior to that, in June 2007 and June 2012, the price in Melbourne increased by about 84 %. What’s more, this price is expected to continue rising in the near future by about $300 a year.
Why you Should Switch
There are many reasons why you should start using solar electricity. Apart from the fact that it’s economically profitable, this energy is also environmental friendly. Basically, you will love the feeling of self-sufficient and love the fact that you are producing clean, green energy. With only 5kW power system and an energy efficient home, Victorians could easily get rid of their electricity bills.