Solar Power Rebates and Incentives currently available in Australia
The solar power rebates and incentives rely heavily on what the state and federal government policy determines. It is important understand what impact governments may have, as this can result in a major change on the price of solar power systems.
Solar Power Rebates and Incentives Explained:
Solar incentives consist of 2 major portions which often get confused with each other. These incentives are:
Federal Government Solar Power Rebates
This rebate allows you to purchase a solar system at a lower up-front cost than it’s actual total value. This is done with what are known as “Small-scale Technology Certificates” or ‘STCs’ (previously known as Renewable Energy Certificates or ‘RECs’). Usually the customer agrees to receive a point-of-sale discount and will surrender the STCs associated with the solar power system they purchased to the installer.
STCs are based on what multiplier the Federal Government has determined. Currently we have a 1x multiplier which means that customers can receive the ‘base solar power rebate’ for the entire solar power system purchase. Check with us for current STC multipliers. The government can decide to change this at the drop of a hat, as we’ve seen in previous years.
State Government Incentives
On top of the federal government solar power rebates, Australian states also offer what is commonly known as a “solar feed-in tariff” which will determine how much financial benefit you will receive over the lifetime of your solar power system.
State feed-in tariff snapshot (systems less than 5kW as at January, 2015):
QLD: Currently offering 0c per kWh
NSW: Currently offering 0c per kWh
VIC: Currently offering 25c per kWh
ACT: Currently offering 0c per kWh
NT: Currently offering 1 for 1
SA: Currently offering 16c per kWh
WA: Currently offering 20c per kWh
TAS: Currently offering 1 for 1
However, it is important to note that the Electricity Retailers also offer an additional feed-in-tariff. Amounts. How good these feed-in tariffs are will depend on which retailer your electricity account is with.
If the Federal Government decides to cut the STC’s, prices could be effected as much as displayed below: