How the Solar Rebate Works
And why you should consider getting a quote sooner rather than later!
Queensland leads the country when it comes to rooftop solar with more than 560,000 households connected as of February 2020. The solar financial incentive has been in place since the Australian Federal Government to decided to subsidise the cost of installing solar power systems as part of the Australian Renewable Energy Target Scheme. The overall idea with this scheme is to encourage Australian households to install solar as a clean energy alternative by reducing the initial financial outlay for the supply and installation of the system.
The financial incentive, also known as the Small-scale Renewable Energy Scheme, uses a currency called Small-scale Technology Certificates (STC’s) that have a dollar value based on the size of your system and your location in Australia. As long as you follow the guidelines for the rebate – such as using an installer accredited by the Clean Energy Council and using Clean Energy Council approved products – you will be eligible for the STCs and therefore the full financial incentive.
Do understand however that the value of these STC’s are Government regulated based on a simple supply verse demand basis and are set to reduce. Current legislation has seen the solar rebate reduce by one-fifteenth on the 1st of January every year since 2017, with the scheme to conclude completely on the 31st of December 2030.
Whilst the price of STC’s is quite generous right now, their volatile past indicates that it may be wise to invest sooner rather than later with reductions in incentive value every year, until the final phase out planned in 2030.
How solar rebates can impact your end price for solar
The incentive in its current format can save you over 50% of the purchase price for a supply and install of a solar system. See example calculation below:
Cost of an entry level installed 6.6 kW solar system – $6,626
Financial Incentive (Rebate) – $3,636
Cost to client – $2,990
By signing up for a system with a reputable supplier/installer, you can lock in the rebate at that time.
Enquire today for an obligation-free quote from one of our accredited professionals which will help you save both money and our precious environment!