On Tuesday 28th of February 2017, the Essential Services Commission announced the Victorian solar feed-in tariff will increase from 5c/kWh to 11.3c/kWh on 1st July 2017. This increase is more than double and is a great initiative to ensure solar powered businesses and households are better compensated for the electricity they export back into the grid.
It's also a welcome relief for solar powered businesses who will benefit from a reduction in their rising business electricity costs.
The closure of Hazelwood power station and wholesale gas prices doubling has resulted in significantly higher energy costs in 2017. To battle these rising costs, its never been a better time to consider solar.