The NSW Solar Bonus Scheme ends on 31st December 2016
Consumers wishing to continue maximising the financial benefit of their solar system at the end of the NSW Solar Bonus Scheme should install a net meter. Selecting a retailer provided smart meter appears to be a good option but “Which retailer should they choose?”
Since installing their solar system deregulation of the NSW electricity market means consumers can choose from approximately 50 different tariffs being offered by almost 20 different retailers. Deregulation also means annual electricity costs on the different tariffs vary greatly.
One major hurdle for affected consumers attempting to compare tariffs is the values shown on the current electricity bill cannot be used to accurately compare tariffs after the net meter is installed.
The described solution is to use the following curve to estimate the net values when the new smart meter is installed.
The Government provided Energy Made Easy tariff comparison website with the estimated values produces a short list of retailers. Consumers can then choose to approach these retailers to confirm the smart metering options.
The author was surprised to find installing a net meter and choosing a lower cost tariff could reduce his annual electricity bill by 23%!
Copyright of this article remains with Dr Martin Gill. All references to this article should include the author’s name and website www.drmartingill.com.au.
Comments or Questions?
The author is happy to receive comments or questions about this article. He can be contacted here