How is my FiT calculated?
Generating best value – 2 Stage Feed-in Tariff
When you export generated solar energy back to Mojo we will pay you 20 cents per kWh (rate 1) up to a maximum of 5.47kWh exported per day. Any further solar energy exported that day will be paid at 10 cents per kWh* (rate 2).
While Mojo wants to compensate customers for generating excess energy, we are also keen to ensure our customers are using their solar generation systems to deliver the greatest benefit. Because there’s really no point generating excess solar power if that means you are paying for other electricity at peak rate times!
So along with the two FIT rates, we have also built real-time smart tools to help customers analyse and plan their consumption in line with their generation capacity. By using these tools you’ll be able to see when is the best times to use your solar energy and when you’ll make the biggest savings. You can check these out here.
Here’s how the FIT rates will look on your bill
When you receive your bill the tariff will be itemised by rate 1 and rate 2 for the total amount generated for the month. e.g.
- Solar FIT Rate 1: 169.86 kWh @ 20c = 33.97CR
- Solar FIT Rate 2: 30.14 kWh @ 10c = 3.01CR