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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:
- When you install a system you’ll receive Small Technology Certificates (STCs) which range in value from $1,000 up to $5,000 depending on the solar system size you install.
- The value of STCs rise and fall like shares depending on demand for solar installations. At times of high installs, the price for STCs drops and hence the rebate drops.
- The value for STCs is currently around $36 which is close to its maximum of $40. It has been as low as $17 in the past.
- The installer claims this on your behalf and offers this as a point of sale discount so you don’t need to worry about claiming it yourself.
- The number of STCs you’re entitled to drops each year up until 2030.
- A feed in tariff is different to the rebate in that it’s the amount per kWh of electricity which you’re paid by your retailer for the energy you export to the grid.
At the current STC price of $36, the average value of the rebate you can expect is listed below.
System sizeNumber of panels (approx.)StatesValue of rebate (STCs)
|1.5 kW||5||WA, QLD, SA, NSW
|2 kW||7||WA, QLD, SA, NSW
|3 kW||10||WA, QLD, SA, NSW
|4 kW||13||WA, QLD, SA, NSW
|5 kW||16||WA, QLD, SA, NSW
|6 kW||19||WA, QLD, SA, NSW
|7 kW||23||WA, QLD, SA, NSW
*Updated January 2019
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 receive, 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 receive 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 receive 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.
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