Do you offer a guaranteed minimum solar FiT?

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Please see below information specific to your state:

VIC Customers

From July 1st, 2020 the government is reducing the government-mandated minimum to 10.2¢/kWh (previously 12¢/kWh).

The payout schedule for the Government minimum FiT will also be changing. Rather than topping you up to the minimum every month, we’ll now be paying out this minimum yearly. This means that if your average FiT with Amber is less than 10.2¢/kWh over the next 12 months, we’ll refund the total difference in a lump sum payment on the 30th of June, 2021.

We’re making this change to account for the seasonality of Amber’s FiT - it’s always highest in the Summer months, when there’s lots of demand on the grid and long days full of sunshine. These high FiT Summer months often end up offsetting lower FiT months at other times of the year.
 

NSW, SA, ACT and QLD customers

We currently top up your solar FiT to at least 8¢/kWh, a minimum that we set back in 2019. However, we’ll be discontinuing the 8¢ kWh minimum FiT from the 1st of October 2020. We’ll continue paying out the minimum FiT for all your exports up until then.

Why are those changes taking place?

Since we introduced this minimum the wholesale price of energy has plummeted for a few reasons: more large-scale renewable projects have come online, gas prices have fallen, and business demand for energy has been lower than usual through the COVID-19 pandemic.
 
This means that in 2020, our minimum FiT has often been higher than the true market value of solar exports. Unlike the big energy retailers, we don’t make a profit on your electricity usage that we can use to subsidise your FiT. So just like we pass through the real-time wholesale price of power with no retail markup, we need to pay out the real-time market value of your solar exports, with no markup.
 

 

 

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