The Queensland Competition Authority's (QCA) "Solar Feed-in Tariffs in South-East Queensland 2023-24" report highlights key trends and developments in the solar feed-in tariff (FIT) market for the period from July 1, 2023, to June 30, 2024. This analysis provides valuable insights for energy retailers and consumers alike.

Decline in Participation and FIT Rates

The report notes a decrease in the number of electricity retailers offering FIT plans in South-East Queensland (SEQ), dropping from 25 to 23 retailers. FIT rates also experienced reductions, with residential FITs falling from 5.5 cents per kWh in September 2023 to 4.9 cents per kWh by June 2024. Small business FITs followed a similar trend, declining from 5.6 to 5.0 cents per kWh over the same period.

Variability and Customer-Specific Outcomes

Retailers offered diverse FIT structures, including single-rate and two-part tariffs. While some plans featured higher FITs—up to 16 cents per kWh—these were often capped, with lower rates applied beyond a specified daily export threshold. Customers with high electricity imports generally benefited more from plans with lower supply and usage charges, while those with higher solar exports found plans with elevated FITs more advantageous.

Recommendations and Future Focus

The report emphasises the importance of customer education to facilitate informed decision-making, recommending the use of tools like the "Energy Made Easy" website for plan comparisons. It also highlights opportunities for innovation in FIT structures to better serve customers with battery storage or electric vehicles. Retailers are encouraged to design strategic offerings tailored to diverse consumption profiles while maintaining market competitiveness.

This evolving landscape underscores the need for both retailers and customers to adapt to changes in solar tariff offerings, ensuring optimised outcomes for all stakeholders.