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Where science talks and bullshit walks (and Memes live)

Energy retailers making millions buying solar power on the cheap from homeowners

At a property on Victoria's Mornington Peninsula, workers are up early to install a rooftop solar system. While there's been anger in South Australia over its blackouts this summer, here there are outages every day.

Key Points

  • the great solar scam: households investing in solar energy and feeding electricity back to the grid for just a fraction of what it's worth
  • About 1.6 million Australian homes already have solar panels installed
  • paying customers either nothing or four or five cents and avoiding having to buy on the wholesale market for seven, eight, nine cents
  • Even making some conservative assumptions, household solar is a bargain for power retailers
  • retailers are making between $74 million to $370 million a year by getting rooftop solar on the cheap

Tags: Solar, Australia, Renewables

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