Victoria’s premium feed-in tariff offers Victorians a guaranteed credit of at least 60 cents per kilowatt hour for excess solar electricity fed back into the grid at any time of the day or year with solar photovoltaic (PV) systems, up to five kilowatts in size. This offer is made to Victorians to encourage them to reduce their individual carbon emission, by making solar panels more economical for the average household and rewarding Victorians who return unused power to the state electricity grid.

This premium feed-in tariff offers on solar power will remain for the next 15 years to all the Victorians, for a total capacity of 100 megawatts of solar power across the state.

Customers that install small-scale renewable energy systems usually produce more energy than they consume that is ‘fed into’ the power grid. A feed-in tariff is a payment to households, community organisations and small businesses from power companies when connected to the power grid, these customers can feed this electricity back into the grid.

The Feed-In Tariff be calculated as-

At present you can get a feed-in tarriff of up to 66¢ per kWh on your excess electricity generated and fed back into the grid. This is calculated every 1/2 hour.

Eligibility

With more than 5,000 customers,all electricity retailers must offer a premium feed-in tariff for solar to their customers. 
Those already having a solar PV system and wants to install then you have a good chance to access the premium feed-in tariff.

To be eligible –

1. You should be a household, community organization or small business.
2. Have a solar PV system no greater than five kilowatts in size;
3. Claim only solar PV systems installed at your principal place of residence (if you are a household);
4. Consume 100 megawatt hours or less of electricity per year (if you are a small business or community organization);
5. Claim only one solar PV system per site.