While the New Year can bring new beginnings and fresh starts, it can also mean it’s time to tighten your finances and start to recoup your savings after the season of spending is finally over!
If this sounds like you then you may be starting to consider installing a solar panel system at your household to reduce your electricity bills through the power of the sun. And if you’ve started your research then you would have heard of the Solar Panel Rebate which entitles Australian households to large subsidies (We’re talking thousands $$$!) towards the purchase and installation of a solar panel PV system.
Federal Government Solar Rebate Overview and 2020 Changes
Provided by the Australian Federal Government the solar panel rebate is known as the Small-scale Renewable Energy Scheme (SRES) or the STC rebate. It provides Australians who are purchasing solar PV systems for their homes with a substantial reduction to the upfront cost of the system. The rebate figure is based on the of small-scale technology certificates (STCs) that the system is permitted to. STCs are certificates which system owners or installers can trade in exchange for an upfront discount to the cost of a solar system. STC’s have a dollar value which can fluctuate depending on market demand, changes in Government and other factors in the industry.
The larger the solar PV system the more STC’s a system is entitled to, the more STC’s, the greater the rebate. Every year on January 1st the amount of STC’s a solar power system is granted decreases meaning the rebate decreases.
As we have just entered a new year the value has recently dropped however only marginally.
How To Get The Solar Panel Rebate?
For a household to claim the rebate on a solar power system the solar installer, the solar panel system and its components all need to be approved and accredited under the Clean Energy Council (CEC) to ensure quality and safety. An accredited solar installer will also be able to claim the rebate on behalf of a household and apply the reduction to the cost of the solar panel system. To get in touch with local accredited solar installers you can request obligation FREE solar quotes with Solar Market.
The accredited installers will be able to assist in helping you find a reliable and suitable solar power system for your energy needs however if you want to be prepared you can do your research and read about the Top Rated Solar Panel Brands To Install In 2020.
Additional Solar Panel Rebates and Incentives In Australia
Victoria residents have access to an additional rebate which was released back in July 2019 under Solar Victoria’s, Solar Homes Program. The rebates available are for solar PV systems, battery storage systems and solar hot water systems for Victoria residents who meet the eligibility requirements. As of January 1st, Solar Victoria lowered the maximum rebate to $1,888 however combined with the Federal Government Solar Panel Rebate this can cover as much as two-thirds of the cost of a solar panel system.
Other state Governments in Australia provide incentives and benefits to assist in the purchase of solar systems and solar battery storage including;
Rebates up to $3,500 are available for eligible landlords to install a solar power system with solar monitoring technology. Rental properties must be located within Gladstone Regional Council, Townsville City Council and Bundaberg Regional Council.
Households in South Australia can access subsidies up to $6000 to help pay for the installation of solar home battery storage systems as an additional component to their current or new solar PV system.
New South Wales
The Empowering Homes Program will provide interest-free loans to eligible New South Wales residents to install solar PV and battery storage systems across the state over the next 10 years.
The interest-free loans will be up to $9000 for a storage battery or up to $14,000 for a solar PV and battery storage system for home owner-occupiers with an annual household income of $180,000 or less. A pilot release is set to launch in the early months of 2020 to households in a few select locations.