Together the State and Federal Governments provide Government Solar Rebates. These come in 2 forms of assistance when installing a solar power system;
When you install a solar system, you are entitled to create and claim Small Technology Certificates (STC’s). These were formally called Renewable Energy Certificates (RECs). You will receive 1 STC for every Megawatt of energy your system is expected to produce over the next 15 years.
A 1.5 kW system (approx 6 to 8 panels) will produce around 31mW worth of electricity over a 15-year period so you are entitled to 31 STC’s. A 3kw system would therefore be entitled to 62 STC’s and so on.
It is common practice to allocate the STC’s to the system installer in exchange for a discount on the purchase price of the system. For example if 31 STC’s equates to $1500 then you would receive a $1500 discount on the system purchased.
You are generally invoiced for the “Out for Pocket” price, less the assigned value of STC’s created in relation to the system.
The biggest benefit that your solar system will give you is offsetting your daytime electricity tariff. For every unit of electricity your solar power system produces and that you consume means that you do not have to purchase that unit from your electricity retailer.
Your electricity retailer will also purchase any electricity generated by your solar system that you don’t use yourself. This may include a contribution from the State Government.
|Reduction in units needed to be purchased from the grid||The number of units produced by your solar system that are consumed on your property (and hence this reduces that number of units to be purchased from your retailer)||24c (Synery A1 Tariff)
Up to 45.9c (Synergy Smart Power Tariff)
|Payment for units exported to the grid||The Renewable Energy Buyback Scheme pays you for any units of electricity your solar system produces that you do not use on your property.||7.13c|
A Voluntary Electricity Retailer contribution of Up to 12c is paid for units exported to the grid.
(this varies with different retailers so please check with your retailer)
|Reduction in units needed to be purchased from the grid||The number of units produced by your solar system that are consumed on your property (and hence this reduces that number of units to be purchased from your retailer)||Your electricity retailer’s daytime tariff|
If you would like more information about the latest State or Federal Government solar rebates, please feel free to give us a call on 1300 074 669 or use our contact form today!