Solar Premium Feed-in Tariff: Transitioning After 15 Years of Support

The Solar Premium Feed-in Tariff (PFIT) was launched in 2009 to incentivize Victorians to install rooftop solar when the technology was expensive. Initially offering a 60 cents/kWh credit for small systems up to 5 kW, this scheme closes on November 1, 2024. Post-closure, solar users will receive feed-in tariffs based on annual rates set by the Essential Services Commission (ESC).

Existing PFIT customers will receive premium credits until November 1, 2024. Afterward, your electricity provider will guide you on new tariff rates, which are set to follow ESC’s minimum rate requirements.

• Switching Providers: You can change electricity companies and still retain the PFIT rate until November 2024. Verify any exit fees before making the switch.

• System Upgrades: Adding extra panels disqualifies you from the PFIT rate, regardless of system size.

• House Renovations: You can replace panels due to maintenance, fire, or storm damage as long as capacity remains the same.

• Moving House: The PFIT is tied to your current property, meaning the new owners will inherit the PFIT benefits until the scheme’s end if you move.

With improved solar technology, many customers might consider upgrading their systems. Solar Victoria offers expanded eligibility for PV rebates, including households with systems over ten years old, and may help with hot water rebates or solar battery loans. To learn more about maximizing your post-PFIT savings, visit Solar Victoria's website.

You can still add battery storage to your system and receive PFIT credits until November 2024, as long as your eligibility requirements are maintained. Adding a battery allows you to store energy for use during peak times, potentially lowering your reliance on the grid.

Originally legislated in 2009, PFIT aimed to provide early adopters with a 15-year guaranteed feed-in tariff. However, as solar adoption rises, daytime wholesale electricity prices have dropped, reflecting the increased solar generation across Victoria. Keeping PFIT rates high could lead to increased electricity prices for non-solar customers.

For those exploring a long-term energy strategy, EServices4U offers consultations on solar panel upgrades, battery storage, and other renewable options tailored to maximize energy savings after the PFIT ends. Visit www.eservices4u.com.au to learn how we can help support your sustainable journey!