Victoria’s regulator is slashing solar feed-in tariffs by a third. 

The state’s Essential Services Commission has announced (details in PDF form) that the base solar tariff for feeding power back into the grid will be slashed from July 1. The rate is being reduced by 34 per cent from 10.2c/kW this year to 6.7 cents per kWh.

ESC pricing director Marcus Crudden says the “days of high feed-in tariffs appear over”. 

However, the ESC has been promoting ongoing benefits for households that install solar modules.

“If households make small changes to the way they use their electricity – such as operating power- hungry appliances during the day – savings of around $890 per annum are possible,” he said.

The ESC’s set rate is the minimum that electricity retailers must pay. Some will choose to pay more.