According to reports in the Weekly Times, the Victorian Premium Feed-In Tariff is close to being fully subscribed. Once the generation capacity of installed panels reaches 100mW, Energy Minister Michael O'Brien has the right to terminate or extend Victoria's lucrative 60-cent-a-kilowatt net feed-in tariff on solar power. The Victorian industry has already installed 70mW of solar panel generation capacity since the feed-in-tariff came into effect 18 months ago and expects to reach the 100mW cap within six months.
Premium feed-in tariffs are one of the items that make installing solar power a lot of financial sense. While there is still a lot of benefit to installing solar without a premium feed-in tariff in place, those wishing to make the most of the premium tariff are advised to act now in order to avoid disappointment.
