Economic incentives are strong motivations to change the behaviour of consumers. One such incentive is being rolled out in South Australia.
The SA government has passed the Feed-in-tariff bill in both the houses and this has led to an opportunity to increase
Economic incentives are strong motivations to change the behaviour of consumers. One such incentive is being rolled out in South Australia.
The SA government has passed the Feed-in-tariff bill in both the houses and this has led to an opportunity to increase the solar power installation in households across the state.
What is the feed-in-tariff. According to Wikipedia:
A Feed-in Tariff (FiT, FiL, Feed-in Law or solar premium is an incentive structure that boosts the adoption of renewable energy through government legislation. The regional or national electricity utilities are obligated to buy renewable electricity (electricity generated from renewable sources such as solar photovoltaics, wind power, biomass, and geothermal power) at above market rates.
This difference in price covers the cost disadvantages of adopting renewable energy sources, and the rate differs between the different forms of power generation.
In SA’s case, the legislation covers for solar systems installed by small customers (this includes households and small businesses). The legislation ends on 30 June 2028 giving a period of 20 years from this June to reco