01/04/2011 Feed-In Tariff Rate To Remain Unchanged
Published: April 1, 2011, 9:23 am
Section: Simon Corbell, MLA | Media Releases
Minister for Energy, Simon Corbell, has today announced that the premium rate for the micro-generation category of the ACT feed-in tariff scheme will remain unchanged at 45.7c per kilowatt hour, providing certainty and stability for the renewable energy industry and consumers.
Mr Corbell also announced that the new medium generator category payment percentage would remain set at 75% of the micro-generator category rate, a price of 34.27 c per kilowatt hour.
"In making these decisions I am mindful of the undertaking I made last year that as far as practicable, the Micro Premium announced then would remain for a 2 year period. I did this to establish certainty for investors and for industry players. This decision to leave the premium rate unchanged honours that commitment" he said.
Notwithstanding the advice received from the Independent Competition and Regulatory Commission recommending a decrease in the Premium, I have taken into account the possibility of a reduction in the strength of the Australian dollar internationally and the impact that would have on the price of solar technology."
"There is also some doubt as to the final outcome of the Federal Government's decision to establish a carbon price as well as changes to Federal Government solar rebate schemes."
These outcomes are not yet clear and it is prudent to not act prematurely. It is important to note that a further review of the premium rate can occur, with appropriate notice, should further information emerge that significantly changes the factors that apply to the ACT scheme."
The first two years of the feed-in tariff scheme have proven successful with more than 4100 installations already on roofs in the Territory which equates to approximately a 7MW solar renewable generation plant for the ACT.
"The Government has released a community guide to assist groups in the ACT to invest in renewable energy technology," Mr Corbell added.
"Canberrans previously ineligible as individuals can now form a group and take part in the scheme, and the guide will assist them in this process," Mr Corbell said.
"The ACT Government is committed to creating Canberra as Australia's Solar Capital, and the decision today to maintain the premium rate for micro-generation confirms that position."
The guide is available on the Department of the Environment, Climate Change, Energy and Water website at http://www.environment.act.gov.au/energy/fit or alternatively, those interested can contact Canberra Connect on 132 281 to arrange for a copy to be posted to them.