Generous rebates are still available to install solar in Australia.
Although we’re unlucky in Australia to have some of the highest energy prices on the planet, we are lucky in that we have heaps of sun and generous government rebates which make installing solar a very compelling proposition.
Here are the key points you need to know about the rebates currently available:
At the current STC price of $38, the average value of the rebate you can expect is listed below.
Value of rebate (STCs) – Vic, TAS$862$1,125$1,725$2,287$2,887$3,450$4,012
|Number of panels (approx)||5||7||10||13||16||19||23|
|Value of rebate (STCs) –||$975||$1,313||$1,988||$2,663||$3,338||$4,013||$4,688|
More detail about how the rebate works
The rebate available for your solar system depends on the size of system installed. For systems under 100kW, the rebate you recieve, in the form of STCs are part of the Small Scale Renewable Energy Scheme (SRES). The scheme is designed to move Australia towards 20% renewable energy generation by 2020.
‘Liable entities’ which means energy retailers such as Origin and ENergy Australia need to source a given percentage of the energy they sell from renewable sources each year. They can either build renewable energy plants such as solar and wind farms or they can purchase STCs which are generated by homeowners who install either solar power or solar hot water systems. This is the rebate that you receive.
Each STC you recieve is equal to 1 megawatt-hour (MWh) of renewable energy that you produce between now and 2030, referred to as the deeming period. As we get closer to 2030, you’ll produce less power which explains why you recieve less STCs per year.
STCs are available for systems up to 99kW.
The rebate is currently healthy due to a high STC price so it’s a great time to Get 3 Quotes and start the process towards significantly reducing your power bills.
Systems over 100kW
For commercial solar systems over 100kW, the Large-scale Renewable Energy Target (LRET) applies and Large Generation Certificates (LGCs) are generated. As opposed to STCs which are generated up front on predicted energy production, LGCs are generated each year depending on the actual energy the system produces and act as an income stream for the business.
Commercial Solar is now every compelling due to the high power prices being aid by businesses. If you’re interested in finding out if it can help your business we can help by arranging 3 no obligation quotes.