The Australian and South Australian Governments offer substantial solar rebates and credits to those who install renewable energy systems for the first time. These solar power rebates are designed to support both the homeowner and business owner going solar to meet Australia’s green energy targets.
The current Federal Government rebate is known as ‘Small scale Technology Certificate’ (STC’s) which was formerly known as REC’s. The prices of these STC’s are determined by supply and demand. When you feed power back to the grid, these credits will assist to reduce your electricity account.
Government solar rebates and credits and feed- in tariffs are continually changing, can be quite volatile, have restrictions, and vary from State to State. The solar credits multiplier is expected to be reduced in the near future and the rebate date is based on the date of installation of your system. We feel the effect of this solar credit multiplier reduction may help support the STC price.
At this stage the Government is proposing to close the scheme to new entrants on October 1, 2011. It is therefore important to always deal with consultants such as SWS who can offer you the latest information on these ever changing Government solar rebate and credit offers.