The New South Wales Solar Bonus Scheme has ended. And if you’re a participant, you should take action now with a meter changeover.
As mentioned in our main guide, an important aspect relates to your electricity meter.
Most meters installed under the scheme are gross meters. This means all solar electricity generated by your PV system is considered an export.
That’s been fine under the generous feed-in tariff offered under the Solar Bonus Scheme. But this ceased at the end of 2016 (click here to learn more).
From 2017, you’ll receive a much lower rate for all the electricity you export – which, with a gross meter, is all of it.
The financial impact to you could be huge. This is why you need to seriously consider changing to a net or smart meter.
Gross Vs. Net And Smart Meters
While a gross meter records all solar production as an export to the grid, a net meter only records the surplus. This enables solar electricity to offset expensive grid power consumption. This means a household no longer receiving the Solar Bonus Scheme rate can get far better value from the generated solar electricity .
A smart meter also offers advanced features:
- recording consumption and production of electricity at regular intervals (e.g. 30 minutes)
- and communicating that information back to the electricity retailer for monitoring and billing purposes.
Most newer smart meters can configure to work in either net metering mode or gross metering mode.
Most energy retailers will be offering to change old meters on an opt-out basis in the near future> This is as part of the NSW smart meter roll-out under the Electricity Supply Amendment (Advanced Meters) Act March 2016.
The expectation is that accompanying this will be change in tariff structures or in some cases involve lock-in contracts.
Not All Smart Meter Offers Are Equal
The cost (or lack thereof ) to NSW customers to have a smart meter installed varies wildly between electricity retailers.
Some energy retailers will be charging quite exorbitant prices. Others will provide them free (with some disturbing catches) and others at no cost without any nasty surprises.
It’s important to arm yourself with the right information in this regard before making a decision. Call our 1300 NSWFIT (1300 679 348) New South Wales Solar Bonus Scheme hotline for obligation-free advice.
Avoid The Rush – Act Now
Thousands of households might be rushing to request meter changes at same time, and there will only be a limited number of authorized electricians who can perform the job.
To avoid long queues and waiting times in the eventuality of a meter changeover rush, we recommend you start the process right now.
Important Questions To Ask on a Meter Changeover
Before accepting a changeover, it’s important to check:
a) If you will continue to receive your gross 60c/20c FiT up until the 31st Dec, and then net from 1st Jan 2017.
b) If there will be any changes to your existing supply tariffs
Energy Matters can help expedite the process of meter changeover as part of a solar upgrade or battery storage installation. Call our friendly team on 1300 NSWFIT (1300 679 348) to find out more.
Meter changeover is just one step in the process of ensuring you make the most from your solar power under the new arrangements. Learn more here and join our mailing list for all the latest updates and special offers from Energy Matters.
