McArdle: Legislation to boost Solar Bonus Scheme savings
The Queensland Solar Bonus Scheme's cost-saving measures came into effect on Friday (November 23) after legislation was passed.
Alterations to current laws, which include the Electricity Act 1994 and the Electricity Regulation 2006, would reduce costs for households and businesses, says the state energy minister Mark McArdle.
He commented: "The changes address the rising cost of the scheme which pays householders a feed-in tariff for any surplus energy generated by their rooftop solar photovoltaic (PV) panel system exported back to the electricity grid.
"These changes are expected to save more than $300 million, which over time will limit electricity prices rises associated with the scheme."
Back in June, the Newman government announced the changes when they reduced the solar feed-in tariff rebate down to eight cents per kilowatt hour as opposed to the 44 cents it had been previously offering.
The minister clarified that by saying existing customers would continue receiving the 44 cents as long as they remained eligible.
The 44 cents deal will not continue, however, when the name changes on the electricity account if the property changes hands as a result of sale or if the property is leased out.
Reducing electricity prices and overall cost of living pressures is the aim of the Solar Bonus Scheme and the Newman government, Mr McArdle said.
Posted by Charlie Moore