I recently installed a 6.6kw solar array.
Looking for best feed in tariff
Jemena (United)
currently with Tango paying me 6.7c kwh
1 Oct -31 Oct earned $46 for 687 kwh
Is there a better deal ??
Best Solar Feed in Tariff - Vic
rocmelon on 24/11/2021 - 11:54
Comments
which plan are you with as it's currently offer 6.7cent on they're current plans.
It's in line with actual wholesale power prices, usually it hovers between 5-8c/kWh for the spot price in Vic on the NEM during the day (right now it's 6c). What's the point subsidising it any further?
The weighted average wholesale FIT in Victoria has been 0c for the last few months according to Amber (wholesale electricity retailer). The Vic government currently mandates a minimum FIT of 6.7c so all retailers have to balance that against their charges and average things out over time. It’s a very complicated system - way more complicated than it should be in my view.
Meanwhile over here in WA it's 3c/kwh until 3pm when it goes to 10c/kwh, return is pretty trash, but then again our subsidies on the original purchase price are higher i believe.
Small price we have to pay to be covid free.
but install cost is unbelievably cheap, a 6kw system in WA cost only about 3-4k even without any government subsidy, which is only half of the cost Victorian paid for similar size system. It goes to say that how much government subsidy has distorted the system and you can only win if you time your game.
The cheap cost in WA is a blessing in disguise given how cheap you can go to turn your house into a huge power station to future proof yourself (if you have the roof space), because FIT will go down to 0 everywhere eventuallyI did mention that ;)
My 6.6kw system was $2200
Retail solar panels were never meant to be a free source of income. People that have solar can expect to pay fees to export the unused energy onto the network in the future.
It's not free, a large amount of capital is needed for a solar system.
The income that the solar panels generates is free.
I consider it a return on investment. Tax free as well.
@rektrading: So you consider income from capital as free income? Rental income from property, receiving dividends from shares etc.
@JIMB0: People install solar panels as an investment. An investment that generates income that isn't taxable is a free source of income.
@JIMB0: Don't worry you're talking to a brick wall.
Also the person who says you should put 99.9% of your savings into crypto because it is guaranteed to go up and you should get a loan against it at 1%, never sell so you can avoid CGT. I guess that is also free money. Unless you are a forced seller with a CGT bill which you can't pay because you've been taking out loans and eating your profits.
For a person that preaches free lunches, they don't really know what free is.
you should get a loan against it at 1%, never sell so you can avoid CGT.
Correction.
The borrowing interest rate right now UTC is 0.62% APY.
https://files.ozbargain.com.au/upload/393946/92513/screensho…
Borrowing always beats paying taxes.
Borrowing always beats paying taxes
Except when borrow for daily expenses are not tax deductible.
@netjock: Tax deductions on a 0.62% loan is a nothing burger.
People borrowing against their assets means that they can avoid paying >$83,167 in taxes on a $250,000 sale.
https://www.ozbargain.com.au/comment/11340580/redirPeople borrowing against their assets means that they can avoid paying >$83,167 in taxes on a $250,000 sale.
Avoid. It doesn't mean it disappears. Tell me that at the very end when you do have to sell it you escape taxes.
Thinking you some how makes it disappears is finance for nothing burgers.
@netjock: "at the very end" like, death?
I don't care about taxes when I die. The keys and the coins will be lost.
“Lost coins only make everyone else's coins worth slightly more.
Think of it as a donation to everyone.” S.N@netjock: People that own assets like real estate refinance to access liquidity. They never sell and pass the assets to their partner or children when they die. The asset can then be sold tax-free or on a step-up basis.
People that run companies can take their pay in stonks options. They only pay taxes when the options are exercised. They can borrow against the assets at very low-interest rates without realizing capital gains.
People that own digital assets can take out loans to access capital so that they can accumulate more assets.
I'm taking full advantage of how the system has been designed.
I don't care about taxes when I die. The keys and the coins will be lost.
That is taking advantage of the system. Okay.
The income that the solar panels generates is free
Based on your theory you can work for free. Because obviously the initial investment in food required for you to generate the energy is not counted.
Retail solar panels were never meant to be a free source of income
And there is free Magic Beans that grows free money. Obviously sunlight and water is free so it must all be free.
I'm with Dodo getting 12c FiT. The usage charges are higher, but I generate far more than I use, so am ahead.
Was with momentum and now switched to dodo.
ReAmped energy solar has competitive rates and 10c fit.
AGL here in NSW still paying me 17c KW, but I hear they are dropping way down from that and just haven’t got to me yet. Not sure what the new highest FIT is or if available in Vic
Social energy offers a 40c feed in, has some conditions though.
Simply Energy is still paying 10.2c/kWh. It’s disgrace how low the FiT rate has come down to.