The Queensland Competition Authority (ACA) has released research that suggests that rooftop solar costs are projected to add over $240, or 12 per cent, to the average electricity bills within five years.

 

State Energy Minister Mark McArdle said the projections showed the upward growth of the Solar Bonus Scheme, which will peak in 2015/16 at $240.

 

“I was advised that if this scheme was left uncapped it would have an accumulative cost of $1.8 billion by 2028 when it is due to expire,” Mr McArdle said.

 

Mr McArdle said that the move to cap the solar feed-in-tariff from 44 cents to 8 cents to minimise the cost of Solar Bonus Scheme had ensured that the cost to the community would be controlled.

 

Mr McArdle said the QCA analysis showed the solar bonus scheme currently added $26 per year to everyone’s annual electricity bill, which will increase to $90 next year if an application by Energex to the Australian Energy Regular was successful.

 

“On top of the impact of the Feed in Tariff, the QCA has also said the solar bonus scheme will add more than $670 million to costs for Ergon and Energex during 2010-11 to 2012-15 as a result of capital and administrations costs associated with the solar bonus scheme,” Mr McArdle said.