The Queensland government has announced that from July 10, the Solar Bonus Scheme feed-in tariff rate will reduce from the existing 44 cents to 8 cents. Existing customers will still be able to receive the old feed-in tariff rate, however new customers will need to lodge an application to their electricity distributor by midnight of July 9 in order to receive this rate.
The new tariff rate of 8 cents will be reviewed again on July 1 2013, and will end by July 1 2014. The Energy Minister Mark McArdle has mentioned that the review of the tariff rate has come as, at the current rate, the solar bonus scheme would cost every household $54 a year by 2014/15, costing the Queensland government around $1.8 billion in total. By early 2013,
the Queensland Competition Authority will be asked to make recommendations on a “subsidy-free ‘fair and reasonable’ solar feed-in tariff for Queensland.”
For more information refer to: http://www.cleanenergy.qld.gov.au/demand-side/solar-bonus-scheme.htm