Solar Credits - New Government Incentive
Solar Credits is the next version of assistance from the Federal Government for households to adopt solar energy. Solar Credits allow a purchaser of a solar energy system to generate multiple Renewable Energy Certificates from small scale renewable generation. Solar Credits will initially provide a ‘five times multiplier’ of the standard REC price to provide a potential rebate of up to $6200 for a 1.5kW system.
Solar Credits provides an upfront capital subsidy to householders, who are able to sell their Renewable Energy Certificates (REC’s) on the market. The Solar Credits policy provides additional credits (REC’s) on the multiple set out in the following table:
| Year | 2009-10 | 2010-11 | 2011-12 | 2012-13 | 2013-14 | 2014-15 | Thereafter |
| Multiplier | 5 Times | 5 Times | 5 Times | 4 Times | 3 Times | 2 Times | No Muliplier |
Solar credits will only apply to the first 1.5kW of capacity installed. Generation from capacity installed above 1.5kW will still be eligable for the standard 1:1 rate of REC’s creation. The credits will only apply to the first small scale generation installed at an address.
Source: http://www.climatechange.gov.au/renewabletarget/publications/pubs/solar_credits-fs.pdf
For example:
Assuming a REC price of say $40 (only an example), a 1.5kW may be eligible for 30 REC’s or $1200 ($40 x 30 REC’s), where as with Solar Credits the household will receive the five times multiplier (5 times that amount) creating a credit of around $6000.
Please Note: REC’s are a market based tradable commodity and as such can dramatically fluctuate in price just as any other tradable commodity, hence the above calculation is an example only. For the current price Solargain is paying for REC’s please contact us on 1300 881 206.
For more information please contact us to receive the latest information on 1300 739 355.
