if you jump in now though, in NSW at least, the $0.60/kWh feed in tarrif is locked in for the next 7 years. So along with the handsome 5x multiplier on your first 1500W worth of RECs, if you install now you will have made a handsome amount by the end of the 7 year period, paying off the system multiple times (at least 2-3 times).
I do agree with you, this current system is not sustainable. Even in Europe they have worked this out, with Spain already dropping their generous rebates, and Germany drastically cutting back their feed-in tarrifs.
Personally, I think that the electricity providers should be looking at means of levelling out the peaks and troughs of electricity demands via storage or similar means.
As im sure you know Hi-Equity, the peak electricity demand is several times greater than the off-peak electricity demand, and as such the capacity of electricity generation needs to be much bigger to cope with that peak load, as is only running at a low fraction of full capacity during all other times of the day...... hence the recent move to TIME-OF-USE metering (aka, POWERSMART metering, as Energy Australia calls it).
After I install my PV system, I will also be looking at an intelligent inverter-charger and large battery bank to eliminate my peak-time power consumption. Basically, using a large battery bank (around 1500-2000Ah capacity) and a large inverter-charger with smart timer functionality, i intend to charge up my battery bank during off-peak periods (around $0.08/kWh), and then during peak periods (worth $0.38/kWh) i will power the majority of my household loads from the battery bank via the inverter.
The inverter-charger is a Rich Electric SuperCombi intelligent inverter-charger. It has a 3000W maximum output, de-rated to 1500W @ 70ºC.
From what i've worked out on my power consumption habits (ive been logging them for a couple of weeks now), i typically use around 16kWh/day:
- 8kWh peak
- 5kWh off-peak
- 3kWh shoulder
using this calculator below:
http://www.18rg.com.au/Solar Off Peak Power Saving Estimation Work Sheet v1.2 MAY 2010.pdf
I have worked out that just with the "off-peak" power saving of the inverter-charger and battery bank (around 1350Ah capacity), my power bill will be a measly $160/qtr.
Without the off-peak power savings, my power bill would be more like $340/qtr.
..... thats a saving of around $180/qtr.
...... then using the calculator linked to above, add in the 2.1kW solar system i am planning.
Credits from 2.1kW PV system = ~$470/qtr
Savings from off-peak power saving = ~$180/qtr
TOTAL SAVING = ~$650/qtr, or $2600/year.
- i will have power bills totalling $640/year, and
- a credit from the PV system of $1880/year
--> so in the end i will get PAID $1240 at the end of each year.
Now the off-peak saving thing is not economically viable for most people, as the parts to do it are quite expensive, and there are no rebates for doing this.
- Inverter-charger = $3199 RRP
- 1350Ah battery bank = $5799 RRP
(its cheaper for me as i get these products thru work)
I honestly think that the right thing to do from the perspective of the electricity generators would be to promote/subsidise an inverter-charger/battery storage system such as above, as it would reduce the need for them to increase their electricity generation capacity just to cover the peak load demands.