With healthy rebates still available, 2019 is great time to Go Solar!
A generous rebate in the form of Small Technology Certificates is available to all Australian homeowners who install solar and is worth around $650 per Kw of panels you install. So, for example, if you install 7kW worth of panels on your roof, you’ll receive around $3,700 towards the cost of your system.
With Australian power prices now amongst the highest in the world, solar is the best tool available to reduce your bills and generate clean, green and free energy on your roof.
- Under the Australian Government’s Small-Scale Renewable Energy Scheme (SRES), homeowners are entitled to a given number of STCs dependent on the system size, where the system is installed and which year the system is installed.
- The scheme can be claimed on multiple properties. The rebate is claimed by the installer of your system and passed on as a point of sale discount.
- STCs are a traded like shares and their worth fluctuates depending on the amount of installations occurring that year. More installs than expected and the worth depreciates. STCs are currently valued at around $36 but have been as low as $17, so now is definitely a good time to install.
- The amount of STC’s you receive are affected by two main variables - Location & System Size.
- Location - The Federal Government splits all of Australia’s postcodes into 4 categories: Zone 1, Zone 2, Zone 3 and Zone 4. If you reside in Zone 1, you’ll receive a greater rebate than someone that lives in Zone 2, who will receive a bigger rebate than someone in Zone 3 and so on. Zones are determined by the number of sunlight hours you receive in the location you are having your Solar PV System installed.
- System Size - The other variable in determining the value of your rebate and amount of STC’s received, is the Solar PV System’s size. The larger the Solar PV System, the more power it will generate and the more STC’s and rebate amount you will be entitled to.
- The number of STCs you’ll receive drops each year. The STC worth can rise and fall depending on demand in the market also.
- The STC value is currently very high but at risk of dropping depending on market demand and Government policies. Now is the time to go solar!
- South Australian households now have access to a State Government subsidy, as well as loans, to pay for the installation of a home battery system. The addition of a battery allows for a Solar PV system to store excess energy, maximising the savings of the Solar PV system.
- The subsidy varies depending on the size of the battery but is capped at a maximum of $6,000.
- The subsidy is available to all South Australian homeowners, with Energy Concession Holders able to access a higher subsidy.
- While the subsidy applies to battery only, households are able to apply for finance made available through the Commonwealth Government’s Clean Energy Finance Corporation to purchase new or additional solar panels as well as the battery system.
Getting solar on your roof is a relatively straight forward process so don’t miss out on the benefits.
At Solar Market, we help you through the process and can organise quotes from 3 Clean Energy Council accredited installers who service your area.