Australia has been striving hard to meet the Renewable energy Target (RET). Every state in Australia has been contributing to meet RET. The Australian government has introduced energy policies to aid the adaption of renewable energy, including feed in tariffs (FiTs). The impact of FiTs in the renewable energy economics for an Australian scenario has been analyzed in this study. A university set up has been considered and the economics for optimally sized renewable energy resources is examined. In this paper the economic impact for the consumers on adapting grid connected renewable energy sources and the effect of FiTs has been analysed for the university building. The advantages and disadvantages have been scrutinized and suggestions for further improvements in FiTs for Australian scenario has been suggested.
feed-in-tariff, renewable energy, economics, renewable energy target
 Sun P, Nie PY. (2015). A comparative study of feed-in tariff and renewable portfolio standard policy in renewable energy industry. Renewable Energy 74: 255-262. https://doi.org/10.1016/j.renene.2014.08.027
 Kobos PH, Erickson JD, Drennen TE. (2006). Technological learning and renewable energy costs: implications for US renewable energy policy. Energy Policy 34: 1645-1658. https://doi.org/10.1016/j.enpol.2004.12.008
 Australia PO. (2017). Renewable energy policy: Retreat, renewal and revitalisation? Available: http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook45p/RenewableEnergy.
 Mendonça M, Scheer H. (2009). Feed-in tariffs: Accelerating the deployment of renewable energy. International Journal of Environmental Studies 67(3): 463. https://doi.org/10.1080/00207230701737011
 REN21. (2016). Renewables 2016 Global Status Report. Technical Report.
 Moner-Girona M, Ghanadan R, Solano-Peralta M, Kougias I, Bódis K, Huld T, Szabó S. (2016). Adaptation of Feed-in Tariff for remote mini-grids: Tanzania as an illustrative case. Renewable and Sustainable Energy Reviews 53: 306-318.
 Couture T, Gagnon Y. (2010). An analysis of feed-in tariff remuneration models: Implications for renewable energy investment. Energy Policy 38: 955-965. https://doi.org/10.1016/j.enpol.2009.10.047
 Shiroudi A, Rashidi R, Gharehpetian GB, Mousavifar SA, Akbari Foroud A. (2012). Case study: Simulation and optimization of photovoltaic-wind-battery hybrid energy system in Taleghan-Iran using homer software. Journal of Renewable and Sustainable Energy 4: 053111. https://doi.org/10.1063/1.4754440
 Elliston B, Diesendorf M, MacGill I. (2017). Reliability of 100% renewable electricity supply in the Australian national electricity market. Towards 100% Renewable Energy ed: Springer 297-303. https://doi.org/10.1007/978-3-319-45659-1_32
 Government A, Department of Industry IAS. (2017). Australian Energy Statistics. Available: https://industry.gov.au/Office-of-the-Chief Economist/Publications/Pages/Australian-energy-statistics.aspx.
 Council CE. (2016). Clean Energy Australia Report 2016.
 Council CE. (2017). Renewable Energy Target. Available: https://www.cleanenergycouncil.org.au/policy-advocacy/renewable-energy-target.html.
 Byrnes L, Brown C, Foster J, Wagner LD. (2013). Australian renewable energy policy: Barriers and challenges. Renewable Energy 60: 711-721. https://doi.org/10.1016/j.renene.2013.06.024
 Flannery T. (2014). The Australian renewable energy race: Which states are winning or losing. http://apo.org.au/node/42300 c9b01df11ecc6e3dd2184.pdf. Date Accessed: 16.3.2017.
 Zahedi A. (2010). A review on feed-in tariff in Australia, what it is now and what it should be. Renewable and Sustainable Energy Reviews 14: 3252-3255. https://doi.org/10.1016/j.rser.2010.07.033
 Trainer T. (2012). Can Australia run on renewable energy? The negative case. Energy Policy 50: 306-314.
 Zahedi A. (2010). Australian renewable energy progress. Renewable and Sustainable Energy Reviews 14: 2208-2213. https://doi.org/10.1016/j.rser.2010.03.026
 Stock P, Stock A, Bourne G. (2017). State of solar 2016: Globally and in Australia. Climate Council of Australia. Available: http://www.climatecouncil.org.au/uploads/4127a8c364c1f9fa8ab096b04cd93f78.pdf. Date Accessed: 15.3.2017.
 Mishra Y, Ledwich G, Ghosh A, George T. (2012). Long term transmission planning to meet renewable energy targets in Australia. 2012 IEEE Power and Energy Society General Meeting, pp. 1-7. https://doi.org/10.1109/PESGM.2012.6345250
 Comission ES. (2017). Feed-In Tariffs. Available: http://www.esc.vic.gov.au/project/energy/2134-minimum-feed-in-tariff/. Date Accessed 2.08.2017
 AGL. (2017). AGL increases retailer solar feed in tariffs. AGL, Ed., ed, 2017.
 Government A, Regulator AE. (2017). Compare energy offers. Available: https://www.energymadeeasy.gov.au/offer-search. Date Accessed on12.9.2017.
 PowerWater (2017). Photovoltaic (PV) solar systems. Available: http://www.powerwater.com.au/customers/save/photovoltaic_pv_solar_systems.
 Australia GOW, Treasury DO. (2017). Public Utilities Office.
 Sinha S, Chandel SS. (2014). Review of software tools for hybrid renewable energy systems. Renewable and Sustainable Energy Reviews 32: 192-205. https://doi.org/10.1016/j.rser.2014.01.035
 Bahramara S, Moghaddam MP, Haghifam MR. (2016). "Optimal planning of hybrid renewable energy systems using HOMER: A review. Renewable and Sustainable Energy Reviews 62: 609-620. https://doi.org/10.1016/j.rser.2016.05.039
 AEMO. (2017). Aemo Average Price Tables. Available: https://www.aemo.com.au/Datasource/Archives/Archive769, Date Accessed on 6.9.2017
 Lipp J. (2007). Lessons for effective renewable electricity policy from Denmark, Germany and the United Kingdom. Energy Policy 35: 5481-5495.
 Pye J, Hughes G, Abbasi E, Asselineau CA, Burgess G, Coventry J, Logie WR, Venn F, Zapata J. (2015). Development of a higher-efficiency tubular cavity receiver for direct steam generation on a dish concentrator. AIP Conference Proceedings 1734: 030029. https://doi.org/10.1063/1.4949081
 Poruschi L, Ambrey CL, Smart JCR. (2018). Revisiting feed-in tariffs in Australia: A review. Renewable and Sustainable Energy Reviews 82: 260-270. https://doi.org/10.1016/j.rser.2017.09.027
 Turkenburg WC, Arent D, Bertani R, Faaij A, Hand M, Krewitt W. (2012). Global energy assessment-toward a sustainable future. Renewable Energy 761-900.
 Haidar AMA, Muttaqi K, Sutanto D. (2015). Smart grid and its future perspectives in Australia. Renewable and Sustainable Energy Reviews 51: 1375-1389. https://doi.org/10.1016/j.rser.2015.07.040