The Benefits of Solar Energy
- There are many advantages worth considering when it comes to solar energy.
- Solar energy is a completely renewable resource that reduces your carbon footprint.
- Solar cells make absolutely no noise.
- It creates absolutely no pollution.
- Very little maintenance is required to keep solar cells running because there are no moving parts.
- They save money in the long run.
- Solar powered panels and products are typically extremely easy to install.
- They add value to your property.
Feed-in tariffs in Australia have been enacted by several State Governments for electricity generated by solar photovoltaic (PV) systems. Feed-in tariff (FIT) are a premium rate paid to producers of renewable energy. They are a way of subsidising renewable energy and in Australia have been enacted at the State level, in conjunction with a federal law creating a mandatory renewable energy target. Both net and gross feed in tariffs have been introduced by various governments. Net FIT’s generally pay comparatively little to the producer (generally a household) because electricity produced by solar photovoltaic or other renewable energy just offsets the producer’s usage. Gross tariffs provide a more certain financial return and pay the household for all electricity produced, even if it is consumed by the producer, reducing or helping meet peak demand. Victoria has a net arrangement. This feed in tariff at present is 8 cent per KW Hour.
What is net metering?
Under net metering arrangements, the electricity you generate is used to supply your own energy requirements and any excess generation that is not used in the premises is exported to the grid. By reducing the need for grid electricity, customers can reduce their electricity bills as they avoid purchasing electricity from the network. Bill savings will increase as electricity prices increase. Net meters work by continuously sampling how much electricity is being generated and how much electricity is consumed at your home. At each point in time the meter instantaneously reads the generation and consumption of the premises and the meter records both these amounts. The data is then accumulated in the appropriate register over the billing cycle. The meter is read and the bill is calculated.