The End of an Era: As November 2024 approaches, the end of the premium solar feed-in tariff for Victorian homeowners, including those in Gisborne and the Macedon Ranges, will also be announced.

If you’ve been benefiting from this high-rate program, it’s time to face a new energy reality. Electricity prices have skyrocketed over the last three years, and as the premium feed-in tariff is phased out, many are set to experience significant bill shock.

But there’s good news—you can take action now to protect yourself from rising energy costs by upgrading your solar system, investing in battery storage, and preparing your home for the future.

For more details about the premium feed-in tariff, visit the official Victorian Government page here.

What Is a Solar Feed-In Tariff?

A solar feed-in tariff is a payment made by energy companies to solar system owners for the excess solar power they generate and export back to the grid.

This is a financial incentive to encourage solar installation and reduce grid demand, promoting the use of renewable energy.
In Victoria, feed-in tariffs have traditionally helped homeowners recover the cost of solar panel installation while making clean energy more accessible.

What Was the Premium Feed-In Tariff, and Who Benefited From It?

The premium solar feed-in tariff (PFIT) was a generous scheme launched by the Victorian Government in 2009 to encourage more households to switch to solar power. Under this program, homeowners received up to 60 cents per kilowatt-hour (kWh) for the excess electricity they exported to the grid. This was a substantial benefit compared to current feed-in tariff rates ranging from 3 to 8 cents per kWh.

This premium tariff was available to early solar adopters who installed systems up to five kilowatts in capacity before 2011. These homeowners have enjoyed high returns for over a decade.

However, with the premium tariff ending in November 2024, the time has come to consider upgrading your system.

The Rise of Battery Storage: Power When You Need It Most

As electricity prices continue to rise and the premium solar feed-in tariff ends, more homeowners in areas like Gisborne and the Macedon Ranges are turning to battery storage. Batteries allow you to store excess solar energy generated during the day and use it at night, reducing your reliance on grid power and helping you save more on your electricity bills.

With solar feed-in tariffs now significantly lower, it makes more sense to store your own energy than to export it to the grid. This is why batteries are becoming a key part of modern solar systems. They ensure that homeowners maximize the value of their investment in solar power, giving them more independence and protection from grid outages.

Having Enough Solar for the Future: Solar, Batteries, and EVs

As energy demands increase, especially with the rise of electric vehicles (EVs), having enough solar energy to meet your needs is critical. Upgrading your solar system and adding a battery can generate and store enough power to run your home efficiently and charge your electric vehicle, even during peak electricity pricing periods.
Investing in the right combination of solar panels, battery storage, and an EV charger ensures you’ll have enough solar energy to cover your home’s needs and prepare for the future.

How to Reduce Your Bill After Losing Your Premium Feed-In Tariff

When the premium feed-in tariff ends, many homeowners may see their electricity bills rise. Here are some strategies to keep your costs under control:

• Upgrade Your Solar System: Newer solar panels are more efficient, allowing you to generate more energy from the same roof space.
  Invest in a Battery: Storing excess energy with a battery will reduce your reliance on expensive grid electricity during peak times.
• Upgrade your Heating/Cooling: Using modern heating and cooling that is energy efficient and can run off your solar system easily helps keep you comfortable without putting a dent in your electricity bill.
• Consider Heat Pumps Hot Water: A heat pump hot water system can reduce the power required to heat your water by 75%, making your home more energy-efficient and in tandem with your solar to power your hot water from the sun.
• Finding the Right Solution: Book a Consultation with Bluegum

Navigating the post-premium feed-in tariff landscape doesn’t have to be overwhelming. The right combination of solar, batteries, and smart energy solutions can help you keep your energy bills low while preparing your home for the future.

Bluegum provides Gisborne and Macedon Ranges homeowners with expert, local advice for their solar installation. We can help you assess your current system and plan for the future, ensuring that your solar investment pays off for years to come.

Take Control of Your Energy Future

With the premium solar feed-in tariff ending soon, now is the perfect time to upgrade your system, invest in battery storage, and ensure your home is future-ready. Don’t wait until the last minute—take control of your energy costs and secure a more sustainable, efficient home.

Book a consultation with a Bluegum expert today and get personalised advice to help you navigate the next chapter of your solar journey. We’ll ensure you find the best solution for your home’s energy needs, from solar panels to batteries to EV chargers.