Government solar power rebates and incentives
A simple set of solar panels could attract more than limitless natural energy. Power up your pockets with solar credits and renewable energy certificates (RECs). Our Federal Government recognises solar energy panels as a powerful force of good. So they’ve launched a range of rebates to help homeowners make the switch. There’s never been a better time to turn on the sun. Here are several great ways in which solar panels pay!
Solar Panels Credits and RECs
Make double profit from your home’s solar energy systems with solar credits. First, the Government will subsidise your purchase of a solar panels system. But that’s not all. You can also generate several renewable energy certificates (RECs). These act as credits for your solar energy generation offering you great returns by:
- Selling your RECs on the market
- Trading your RECs via the REC Registry
- Claiming RECs yourself
The solar panels credits scheme operates on an REC multiplier system. For example, one REC equals one megawatt hour of electricity production. That REC is then multiplied by five meaning you profit by five times the dollar amount. This adds up to a potential rebate of up to $6200 for a 1.5kW system.
At intervals over the next five years the solar credit multiplier rate will reduce. A summary of these reductions is shown in the table below.
| Installation Period | Multiplier |
|---|---|
| 9 June 2009 - 30 June 2010 | 5 x [number of eligible STCs] |
| 1 July 2010 - 30 June 2011 | 5 x [number of eligible STCs] |
| 1 July 2011 - 30 June 2012 | 3 x [number of eligible STCs] |
| 1 July 2012 - 30 June 2013 | 2 x [number of eligible STCs] |
| 1 July 2013 - onwards | 1 x [number of eligible STCs] (ie no multiplier) |
Renewable Solar Energy Panels Buyback Scheme & Feed-In Tarrif
Your Electricity provider will buy back any excess power that your solar energy system produces. The buy-back rate is dependant on which state you are in and the current scheme that your state government has implemented. All you need is a solargain energy system connected to the main grid.
Want to know more? Contact us here or call 1300 73 93 55 today!
