NSW Solar Bonus Scheme Ending Soon
The end is near; NSW Solar Bonus Scheme Ending Soon. If you’re participating in this scheme it’s time to check what meter you have and where to go from here. It ends 31st Dec 2016!
If you have a net meter installed, there is no change required. Most retailers have offerings for customers on this meter setup already, as many people installed grid connected solar power systems after the programs sign on date. Although there are some 60c customers on net meters (usually meter box long way from house) most are 20c.
If you have a gross meter, you’re probably a 60c customer on the solar bonus scheme. A gross meter, means all your solar power is sold to the grid, not net of what is consumed. After the programs ends the amount you get paid for your solar power will be less than what power from the grid costs. Therefore it’s most likely in your best interest to look into having your meter changed, so you use your solar power in the day, and send the surplus not being used to the grid.
Whilst considering changing your meter, it’s a great time to look at your energy plan. Being a solar customer, you’ll have a digital meter – a TOU (time of use) meter to be exact – although many customers don’t use this feature.
TOU meters track the time you use power. There are several electricity plans available for time of use. In my premise for example, the electricity bought in the daytime, on weekdays costs a little more than a standard plan. The benefit is, overnight and the whole weekend – the cost drops around 50%.
Depending how you use your power, when you’re home and how much power your solar will offset in the expensive periods – you could make a nice saving. I certainly do in my home, and have made a few changes to my schedules to really take advantage of it.
If you have any questions regarding meters and options, talk to your electricity supplier, ask a few – it may be time to change. In most cases you’ll need to arrange a level 2 electrician to change the meter over.
Any other questions, feel free to ask in the comments below!
For specific details on the solar bonus, head over to NSW Dept of Industry.