The solar feed-in tariff in NSW varies by provider and specific plans. It typically ranges from 12 c/kWh to 22 c/kWh.
What does this mean for you? Suppose you have installed a 10kW system and a 16 c/kWh feed-in tariff.
Assuming 50% of your power is used in the home, and your cost of power is 30 cents per kWh – you will save 30 cents x 20 kWh a day. Over the course of a year, that’s 7,300 kWh for a $2190 reduction on your power bill. Importantly, you won’t see this on your bill, it will just be $2190 less than it would have been without solar.
The other 50% of the 40kWh produced by your solar system gets sent to the grid because you didn’t use it. Based on that juicy feed-in tariff of 16 cents, you get a $1168 credit on your power bill per year.