Changes are afoot for Australian residents come the 1st January 2017 when consumers are likely to see a big reduction in the savings they have had so far from their solar energy devices. The solar boom in Australia is responsible for more than 1.5 million households now using solar power, and this is mainly due to the healthy subsidized payments that were being issued as an incentive. However, that may all be about to change, and consumers are facing a lower rate in energy costs rather than seeing any form of subsidized payment anymore come next year.
Subsidized payments currently form a significant part of the solar energy market in Australia. Some residents have been getting as much as 60 cents back for every kWh they sell to the grid when they only paid 25 cents per kWh in the first instance which has been a good money earner for some in return for their contribution. But now, they are in threat of potentially losing all of that profit. Those residents in New South Wales will see the biggest hit as they received the best deals between 2010 and 2012 and have on been on those same rates ever since. They also currently receive subsidized payments for every bit of electricity they put into the grid and not just the excess, so this will come as a big shock to many of those residents.
The best way that residents can combat this change is to become smarter. By using smart meters to tell you where you are using the most energy you can adapt to this and make your energy usage more efficient, but they do come at a cost of up to $600, so may not be the best option for everyone. Other ways to achieve this are by switching to LED lights throughout the home or changing to more energy efficient appliances when they need to be replaced. Another product that is becoming more popular for Australians in light of this recent news is batteries. If residents are unable to get their money back from the feed-in tariffs, then they can look to save the energy they are accumulating in the day when at work and store it to be used in the evening when they come home. Although batteries for home use are still quite expensive at the moment, sales are still expected to rise, and hopefully, this will cause the prices to drop making them more affordable for more residents.
For Australians to make the most out of this change in subsidized fee-in tariffs, they need to make the most of their existing solar energy resources. Very efficient water heaters can be installed to run off solar power in the day to use during the night. Heating too can become more efficient with the use of heat banks that use solar generation in the day to heat clay, concrete or ceramic and then release it at night when needed. Also, by running appliances in the day when the sun out lowers the chance of using any electric from the grid which will keep costs down. So, will all these ways that Australians can still save money even with the changes coming, it doesn’t seem too bad actually. And, with all that sunshine out there, it would be crazy not to make the most of it.
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