Households with solar – you may want to strap yourselves in, because your feed-in tariff options just got a whole lot more exciting thanks to OVO Energy.
The UK-born retailer has revealed a thrilling new array of solar electricity products for households with rooftop panels in New South Wales, Victoria, south-east Queensland and South Australia, each of which comes with a boosted feed-in tariff on exports.
OVO Energy’s latest deals, The Solar Plan and The Basic Solar Plans, are offering between 12 cents per kilowatt hour (c/kWh) and 14c/kWh, depending on location, to eligible solar customers on the first 4,000kWh exported each year.
The highest feed-in tariff will be awarded to Queenslanders with 14c/kWh on the table, while households in Victoria, NSW and SA will receive 12c/kWh.
After households reach the 4,000kWh cap each year however, this feed-in tariff will revert back to OVO Energy’s standard 7c/kWh feed-in tariff.
The Solar Plan and The Basic Solar Plan follow similar designs to the retailer’s standard The One Plan and The Basic Plan market offers, in that customers who agree to direct debit billing on The Solar Plan will be awarded with cheaper usage and supply rates than those on The Basic Solar Plan.
Both plans come with variable rates on an ongoing contract and the option of GreenPower add-ons for a small additional cost.
OVO Energy’s $190 online sign-up credit is also currently applicable on these offers.
The Solar Plan and The Basic Solar Plans are available on a single rate, controlled load or time of use tariff in Victoria, SEQ and SA. New South Wales customers, however, will have selected choices depending on their distribution network.
For pricing in VIC, SEQ and SA, please refer to the tables below. NSW pricing and further terms and conditions can be found on the OVO Energy website.
OVO Energy Solar Plans
Here are the OVO Energy solar plans on our database for Victoria. These are products from a referral partner†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Are OVO Energy’s solar plans worth it?
An attractive solar feed-in tariff can often seem like a big win for solar customers, but it is also important to consider the other features of a plan first before making a final purchase decision.
In the case of OVO Energy’s solar plans, while it is offering one of the biggest solar feed-in tariffs available on single-rate plans in VIC, SEQ and SA, according to Canstar Blue’s database, there is also a considerable price jump between its standard market offers and its solar-specific electricity offers.
Canstar Blue Utilities Editor Tara Donnelly said households needed to consider whether the higher usage costs were worth the benefit of a larger solar feed-in tariff.
“For some customers, such as those with larger solar systems or a solar battery, a higher solar feed-in tariff may be of more benefit to them than lower usage costs, since a selection of their solar energy is readily available for exporting, without impacting their day-to-day energy usage,” she said.
“But for those customers still relying heavily on grid energy to make up the excess of their energy usage, outside of solar, then it may be more cost-efficient to focus on plans with lower usage rates, such as a standard market offer.”
Ms Donnelly suggested households look at past energy bills to see what may benefit them more.
“Customers that are on the fence may find it useful to compare the rates on their past energy bills,” she said. “If they have had solar for a while, they should be able to see how much they are exporting each month or quarter, as well as how much they are still drawing from the grid.
“This should help to outline whether a higher feed-in tariff or cheaper usage rate could be more appropriate for them.”
Not sure where to look on your past bills? Check out Canstar Blue’s guide on how to read your power bills.
Canstar Blue has previously found that being on the wrong energy plan for solar could cost some customers as much as $800 a year more than it needs to.
Looking for a plan with lower usage rates instead? Check out some of the cheapest deals currently available in these states
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3911kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4613kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4011kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
Image credit: myphotobank.com.au/Shutterstock.com
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