Australia's solar feed-in tariffs drastically decreased over time

Feed-in tariffs for solar energy in Australia have dropped significantly, with some states reporting reductions of up to 99.93% over the past 15 years. New South Wales will pay as little as 4.9 cents per kilowatt-hour starting in July, while Victoria has set a flat rate of 0.04 cents. The decline in payments is attributed to an oversupply of solar energy and increased installations, with over 4 million systems now in use. This has led to negative daytime power prices in some regions, as solar energy generation exceeds demand. Experts suggest that homeowners should focus on self-consuming their solar energy to maximize savings, as the value of exported energy has diminished. Despite lower feed-in tariffs, using solar power directly can still lead to significant reductions in electricity bills.