The Solar Panel Rebate in Australia
In Australia there are two types of solar panel rebates available for those who elect to go with solar:
- Feed-in tariff
- STC incentives
Feed-in tariff (FIT) is a solar panel rebate relating to the funds you can receive by feeding energy units back to the grid. FITs vary among different states and are currently at approximately 7 cents per kWh (unit) in Western Australia. FITs are currently only available in WA for homeowners, not commercial premises.
STC incentives or Small-Scale Technology Certificates are basically generous incentives available to those who purchase solar systems in Australia. They are government incentives that were developed to help you reduce the upfront cost of the solar system. The value of solar panel incentive that a household receives is generally calculated based on system location or postcode, installation date, and the amount of electricity generated over the course of its lifetime.
Finally, as the Renewable Energy Target tracks to 2030, the deeming period for solar photo-voltaic solar systems under the Small-scale Renewable Energy Scheme will drop, starting from 1 January 2017. Hence, the current 15-year deeming period will reduce to 14 years in 2017, and by one year each year thereafter. This will also reduce the number of small-scale technology certificates systems may be eligible for.
This means the sooner you invest in a solar power system, the more you’ll save on the upfront cost.
To secure the current solar incentives and find out how much a solar power system could save you on your electricity bill, contact us today – we’d be more than happy to assist you.