Momentum has introduced a new 7c/kWh solar feed-in tariff
Momentum Energy has introduced a 7 c/kWh solar feed-in tariff (FiT) for NSW solar customers.
Momentum's new retailer 7 c/kWh solar FiT will generally be available to:
- Existing customers
- New solar NSW customers
Customers should note that there are eligibility requirements which are defined in our voluntary FiT terms and conditions (available here) however the key requirements are that:
- You fall into the category of a "small" customer;
- You have an electricity supply contract with us which is a market retail contract; and
- Your solar generator is a "Complying Generator".
Frequently Asked Questions
Why is Momentum providing a 7c/kWh solar feed-in-tariff?
Momentum Energy supports renewable energy. We're proud to be backed by Hydro Tasmania, Australia's largest generator of renewable energy. We're also thrilled we can support household and small business solar generated power – by giving our NSW customers 7 cents for every kilowatt hour of electricity that’s fed back into the National Electricity Market (NEM) grid.
If I'm an existing Momentum solar customer -
Do I need to do anything to receive the 7 cents solar feed-in tariff?
On meeting the eligibility requirements – as outlined in our terms and conditions – we will take care of everything for you. If, for whatever reason, you'd like to opt-out of receiving the new feed-in tariff contact us to let us know. Otherwise you'll see a credit on your next bill of 7 cents for every kilowatt you feed back into the electricity grid.
I'm thinking of joining Momentum and I have solar.
If you are moving onto a new market retail contract for electricity supply with Momentum, and you meet the eligibility requirements for our voluntary FiT scheme, you will have the opportunity to join our voluntary FiT scheme at the same time.
I'm on the NSW Solar Bonus Scheme, what happens when it ends?
The NSW Solar Bonus Scheme (SBS) ended on 31 December 2016.
From 1 January 2017, a new 7 c/kWh Momentum solar retailer FiT is generally available to former NSW SBS customers. If you were on this Scheme and haven't received communication from us about this please call our Australian-based team on 1300 662 778.
How does this impact me?
If you were on the NSW Solar Bonus Scheme and receiving a solar feed-in tariff of 60c/kWh or 20c/kWh it is possible you will notice a rise in your bill amount. In some cases, this could be quite significant and will vary from customer to customer, depending on a number of variables such as:
- individual customer usage
- whether you've been receiving a NSW SBS 60c or 20c FiT
- how much solar energy your system generates
- whether you're on a Time of Use (ToU) or FLAT rate plan.
We can help if you'd like to learn more about how the expiry of the NSW SBS may impact you. Our Australian-based team can review your historical usage and solar generation to provide you with an indicative estimate of what your annual spend could be. Note that our estimates are based on assumptions that your behaviours - eg, past usage and generation - don't change.
Have a bill with your NMI (National Metering Identifier) handy and give us a call.
Given this change, am I on the best solar meter configuration?
You may want to consider your metering options to make sure you get the most out of your renewable energy system. For example investigating whether you have a 'net' or a 'gross' metering configuration:
- If you have a net meter: you're using all the solar electricity you generate for your home or business needs first with the excess fed back into the National Electricity Market (NEM) grid.
- If you have a gross meter: you're currently sending all the solar electricity you generate directly into the NEM grid. You're buying electricity for your home and business needs while your solar units are operating from your retailer at their usual rate.
Momentum can organise our service providers to upgrade you to a net meter at no upfront cost to you. Note that additional costs may apply depending on the state and location of your meter - we'll let you know of any additional costs to get your go ahead before we carry out any work.
I have a gross meter. Is it better for me to transition to a 'net' meter?
Under your gross metering configuration, you're feeding all your electricity back into the power grid. Following the introduction of Momentum's new solar scheme, you'll start receiving 7 cents from us for every kilowatt you feed into the electricity grid. Or if you're currently on the NSW SBS, our retail solar FiT will be effective from 1 January 2017.
As a rule of thumb, however, if your feed-in tariff is lower than the price you pay for electricity, then you're likely be better off on a net meter.
- We can help upgrade you from a gross to a net meter
Momentum can organise our contractors to upgrade you to a net metering configuration at no upfront cost to you. Note additional costs may apply - depending on the state and location of your meter. We'll let you know if these apply and get your go ahead before we carry out any work.
- How do I know whether to upgrade?
We can also provide you with an indicative estimate of potential savings if you were to upgrade to a net meter. These estimates are based on the assumption that your behaviours - i.e. past usage and generation - don't change. Have a bill with your NMI handy and give us a call.
To register your interest in hearing from us about transitioning to a net meter, please email firstname.lastname@example.org or call our Australian-based Customer Care team on 1300 662 778 on weekdays from 8am to 6pm (AEST).
I have a net meter. What does this mean for me?
You're already set up to use the solar electricity you generate for your home or business first. If you have commenced participating in Momentum's new solar FiT scheme, you'll receive 7 cents from us for every kilowatt you feed into the electricity grid.
We'll be adding to these Frequently Asked Questions in the lead up to the NSW Solar Bonus Scheme ending. We'd also appreciate your feedback so we understand what you'd like to know more about, or how we can improve our service. Please email us at email@example.com
Contractor licensee under the Home Building Act 1989 (NSW): Momentum Energy Pty Ltd
Contractor licence number: 304285C
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