Australian households and businesses continue to embrace solar energy at a rapid pace in a bid to avoid rising electricity costs, with 1.5 million Aussies now jumping on board for a renewable energy future.
The recent surge is due in part to the federal governments’ STC scheme, which delivers real upfront savings to Aussies moving towards renewable energy and is not to be confused with the feed it tariff that is an ongoing discount determined by your electricity retailer (that’s a story for another day). So just what is an STC and why do you need them right now…
Understanding the federal STC rebate
The federal government currently offers a financial incentive designed to encourage Australian homes, businesses and community groups to take up solar in a bid to meet our renewable energy target by 2030. This incentive comes in the form of an STC (small scale technology certificate) which is applied directly to the solar system at the time of installation. As the end user, you do not need to pay up front or claim any money back, you are not out of pocket, the incentive is built in to your upfront cost of your solar system.
Under the governments Renewable Energy Target scheme (RET), the current STC calculation will reduce again at the end of the year and will do so each year until it is phased out in 2030, so if you’ve been considering solar, now is the time to take action. Today the STC incentive for a 6.6kW system sits just shy of $4,200.00, fast forward to January and the annualisation of the STC scheme has come into effect and this will have dropped significantly to around $3,890.00, dependant on the STC value, that’s a difference of $400 as the clock strikes 12 on 2017.
To secure the current STC price, it’s worth noting your solar system must be installed and operational before the December 31st, taking into account that solar just doesn’t happen overnight. By the time you’ve signed your contract, its then over to the supply authority to apply for a grid connect, and this can take anywhere from 2 to 8 weeks, and then there’s installation and finally operation. From the time you sign, to the time your STC’s take effect you will need to allow a period of eight weeks, so don’t delay, ACT NOW and save yourself some serious money before the December 31st deadline.
So run, don’t walk to solar and enjoy the benefits now, before the silly season kicks in and the air con stays ON.