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Solar Rebates:

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What is the Solar Power Rebate?

The Solar Power Rebate is a Australian Government initiative that subsidies the cost of renewable energy systems to make it more affordable for homes, business and community groups. The rebate means that installing solar power is more a affordable and viable investment.

The Solar Rebate is made up of Solar Credits, which are a part of the Renewable Energy Target (RET) scheme that was created by the government as mechanism to boost the production of renewable energy. The Solar Rebate offers financial support to households, businesses and community groups that install small-scale solar systems, wind and hydro electricity systems.

How Much Benefit Can I Expect From The Solar Power Rebate?

Solar Credits are provided in the form of Renewable Energy Certificates, or 'RECs', for people who have installed a new solar system from 9 June 2009. Solar Credits apply to the first 1.5 kilowatts (kW) of capacity of the system installed. The level of support provided by Solar Credits depends on the price of RECs (which may vary over time) and the location and size of the system.

Renewable Energy Certificate (REC) credit multiplier is the basis for the Solar Credit Scheme. A single REC is equivalent to one megawatt hour of electricity generation. REC's are currently issued with qualifying solar hot water, solar energy, wind power systems or solar panels and be traded for cash. The value of a REC is dependent on market conditions.

Under the new Solar Credit Scheme, one REC will be initially multiplied by 5, offering five times the dollar value. The 5x multiplier will exist from the start of the program up until the end of the financial year 2012.

Why do Solar Credits vary across the country?

The number of Solar Credits created for a system will depend on the amount of renewable energy the system generates.

A solar PV system in Sydney, Perth, Adelaide, Brisbane and Canberra will create the same number of RECs and receive the same amount of support.

The same sized system installed in Melbourne or Hobart will receive fewer RECs as these areas have less sunshine so less renewable energy is produced.

If I install solar panels myself, will I still receive the rebate?

No. The Office of the Renewable Energy Regulator have made it a requirement that only CEC accredited installers can sign-off on credits.

Are there any more subsidies?

As well as the solar panel rebate, you can receive money from your solar system thanks to Solar Feed-in Tariffs. Feed-in Tariffs pay owners of solar systems that put renewable energy back into the grid.

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