The Essential Services Commission of Victoria has provided the final details of its first ever varying solar feed in tariff (FiT) that will take effect from July 1, 2018, and thereafter become compulsory.

Energy experts have warned of a possible over-supply of solar energy to the grid during periods of low demand however the question is, will this lead to another solar feed-in tariff cutback?

A feed-in tariff is just another great benefit of installing solar panels. The renewable energy feed-in tariff is a rate paid to eligible households, small businesses and community organisations for excess electricity fed back to the electricity grid from designated renewable electricity generation sources such as solar panel systems, solar thermals, hydro systems or wind turbines.

The wholesale cost of electricity is almost always the focus of power companies when asked why energy costs are rising. The reason for this focus is it’s the one cost that your power company can blame on you.

Since 2007, Australians have spent almost $8bn on rooftop solar panels thanks to attractive feed-in tariffs that once offered households up to 60c per kWh they sold back to the grid.

Following almost 1,000 redundancies being handed out by solar companies Mark Group and Climate Energy, protest against the Queensland government over cuts to renewable energy is at an all time high.

A final decision has been made by the Essential Services Commission on the minimum feed-in tariff rate paid to Victorian customers with solar panel installations in 2014.

The wholesale cost of electricity is almost always the focus of power companies when asked why energy costs are rising. The reason for this focus is it’s the one cost that your power company can blame on you.

As of 1 January 2013, the Transitional Feed-in Tariff for solar panels will be closed to new customers, as will the “one-for-one” arrangements under the Standard Feed-in Tariff Scheme.

Homes and businesses with solar systems will continue to be paid generously for the power they produce while other consumers front the cost. The Newman Government has committed to keeping the 44 cents feed-in tariff for power generated by existing solar systems despite the decision impacting vulnerable customers.

Yesterday, the Queensland Government broke its election promise to retain the 44 cent feed-in tariff for solar PV generation only three months after being elected.