OCTOBER 2017What is the National Energy Guarantee and what does it mean for Australian households? The federal government have announced that they will be moving from the Clean Energy Target (CET) proposed by Chief Scientist Alan Finkel, to a new energy policy called the National Energy Guarantee (NEG). This is big news in the industry, after a tumultuous year and many months of indecision. The states still need to accept the proposal but in all likelihood, the federal government will be setting an emissions reduction target and the Australian Energy Markets Commission (AEMC) will translate this into a target for each energy retailer and large energy user connected to the grid. The proposed policy puts two major responsibilities on the electricity retailers and large energy users:
- A reliability guarantee to boost the reliability of the electricity market
- An emissions guarantee to reduce the emissions intensity of electricity supply
JULY 2017The world’s biggest battery storage solution is coming to South Australia, but what does it mean for you? Elon Musk has agreed to build the world’s biggest lithium ion battery in South Australia in 100 days. The array will be capable of an output of 100 megawatts (MW) of power at a time and will be able to store 129 megawatt hours (MWh) of energy. It is to be connected to the Hornsdale wind farm, which is currently under construction in SA. If you are living in SA, the battery will primarily provide stability for the power grid but is unlikely to have a large impact on the average consumer power price in South Australia. It will help reduce instances of extreme price spikes, for example, if a very hot day is forecast during summer the battery can be fully charged in advance and discharged when air conditioning use is high, to help keep wholesale prices stable. The battery will also no doubt serve as a considerable boost to tourism in the local area of Jamestown. Nationwide, the battery should be able to provide some serious competition in the market to drive down prices for consumers. This is great news for those interested in installing a battery storage system to compliment a new or existing solar system.
April 2017The Increase in Victorian Solar Feed-In Tariffs Explained Great news for Victoria! As of 1 July 2017, the solar feed-in tariff for households will officially be increased from 5c/kWh to a minimum of 11.3c/kWh. A feed-in tariff is a payment for electricity fed into the supply grid from a renewable energy source, such as a solar system. The primary aim of feed-in tariffs is to encourage the adoption of renewable energy. In the past, consumers have felt short-changed by tariffs that do not accurately reflect wholesale electricity price increases and this news comes at a time when households are feeling the effects of recent electricity price hikes. There really has never been a better time to install solar for your home! Australian Feed-In Tariffs by State VIC – 5.0c changing to 11.3c !
SA – Varies
ACT – 6.0c – 7.5c
TAS – 6.67c
NT – Same as consumption rate
WA – Varies
QLD – 6.0c – 12c
NSW – 5.5 – 7.2c