The federal government currently offers financial incentives for Australian households and businesses for investing in renewables such as solar power. The incentives come in the form of STC’s (small-scale technology certificates) which can be applied to the upfront cost of the solar PV system.
Each year the STC’s reduce, as the government is looking to phase out the scheme completely by 2031.
Due to changes made by the Federal Government, STCs are being reduced by 1/15 (around 6-7%) on January 1st every year until 2031, when they are phased out completely. This means the sooner you invest in a solar power system, the more you’ll save on the upfront cost.
Unfortunately, there is also no guarantee the decreased STCs will stick around until 2031. The Federal Government, regardless of which party holds power, has the ability to axe the incentives at any point in time. As a result, if you want to make the most of the government incentives that are currently available, you should consider purchasing and installing solar as soon as possible.