Instead of feed in tariffs for excess electricity generated from residential solar panels, create a "bank" account where all generated electricity is credited and all used electricity debited.

The result of the "bank" account is that at the end of the period, either the consumer pays the "debit" balance of the "bank" account or a credit balance (in Kwh's) is carried forward.Feed in tariff's in Victoria were reduced dramatically from 1 January this year (for those on the interim feed in tariff)then increased marginally again from 1 July and this effected those of us who installed solar panels to minimize our electricity costs.It was a double whammy as the reduction for feed in tariffs was when the most excess power was generated by the solar panels and costs had increased. It effectively meant that whilst 6.5 cents per Kwh was credited for power into the grid, around 30 cents was being charged for power out of the grid which seems to me to be stealing - having to pay around 23.5 cents per Kwh for power that had been put in to the grid. Someone is making a profit from this system.These reductions were governed by the Essential Services Commission here in Victoria but they have been deaf to this suggestion in the past.

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