Every year on January 1st solar system rebates will decline until they will eventually come to a close in 2030.
At the moment, solar rebates are at the highest they will be ever over the coming decade. So, if you’re thinking about installing solar? Now’s not the time to wait. Here’s how solar rebates are being phased out.
What Are Solar STC’s?
STC’s stands for Small-scale Technology Certificates.
Under the Small-scale Renewable Energy Scheme, small-scale solar systems are entitled to a number of these certificates.
These certificates are environmental credits that can be traded in exchange for an upfront discount on the cost of a solar system.
The more certificates you receive the more money the government will grant you. As a guide, usually one certificate is equal to one megawatt hour of energy your solar system will generate over its lifetime.
- Installation date
- Deeming period
- System location
- Locations are divided into 4 zones with different ratings. The zones are as follows:Zone 1 = 1.622 rating
Zone 2 = 1.536 rating
Zone 3 = 1.382 rating
Zone 4 = 1. 185 rating
How Solar Deeming Periods Work
As part of the Small-scale Renewable Energy Scheme, the amount of STC’s a solar system is granted is decreased annually meaning that the solar rebate also decreases. In 2020 those that install solar systems receive 11 years of STC’s in advance.
In comparison, in 2021 those that install a solar system will only receive only 10 years of STC’s in advance. See the table below for the declining deeming periods.
|Year solar PV system installed||Deeming period in years|
What STC’s Are You Eligible For?
Here is a simple formula to help you figure out the number of STC’s you’ll receive:
kW solar system size X deeming period in years x zone rating= the number of STC’s you’re eligible for.
The only way to ensure you are gaining the best solar rebate possible is by choosing to install your solar system sooner rather than later. At the moment the best rebate will be available until the 31st of December 2020.
If you’re ready to start installing, Solar Market connects you with three complimentary solar quotes from CEC accredited solar installers in your area so that you can get the most out of the current government rebates.
If you need a little more information before getting quotes, Solar Market provides a wealth of blogs, articles and updates on the latest solar information.