The solar rebate is part of Australia’s Renewable Energy Target and was introduced at the start of 2011. The Australian Federal Government solar incentive scheme entitles you to claim rebate on purchase and installation of solar system. The rebate or subsidy referred to as STC (Small Scale Technology Certificate) allows a discount on the final price of the solar system that you actually have to pay out of your pocket. Usually, the amount of rebate depends on the place where you live and it phases out slowly every year. Currently, it ranges anywhere between $500-$600 per kilo-watt.
Installing an eligible system allows the creation of Small-scale Technology Certificates (STCs) with a value that can be redeemed by selling or assigning them, these are termed as Renewable Energy Certificates (RECs). The number of RECs created is based on:
There are certain conditions to claim STCs which are as below :
You can check the STCs you are eligible on Clean Energy Regulator website with the help of STC Calculator.
Owners have 2 options for receiving benefit for their STCs:
For Example, the price of a 6.6 kW fully installed solar power system in Brisbane in 2020 is around $7500. You are entitled for total RECs of 100. Price of RECs ranges between $0-$40. Let’s assume currently, RECs are priced at $37, then you are entitled for a total rebate of 100 X $37 = $3700. Effectively, your out of pocket system price will be $7500 – $3700 = $3800.
Price of RECs fluctuate depending on factors like demand of solar system. If demand increases, price goes down and vice versa. In order to keep this simple, you can surrender these RECs to your solar system supplier. By doing this
Call us on 1300 650 747 to book the solar system for you and take care of the rebate paperwork on your behalf.