Rebate is all yours if you invest in the solar panel system – it’s what the Australian government has announced. The environment is the lifeblood of any human being. You can’t stay alive unless the environment is free from poisonous air. The polluted air suffocates your every breath. Sluggishly, it’s taking lives.
Meanwhile, the Australian government comes with some excellent grants. It subsidises through its federal schemes. These schemes hide many solar panel rebates. So, wherever you install the solar panel, be in your office or at home, you get a federal grant.
Simply put, you might be thinking about how much you can get off the price and how much expensive that solar panel system would be.
Government Rebate on Solar Panel:
How much you would be subsidised-it depends on the kW that your solar panel system generally generates. Let’s go through this example.
If you install a 3 kW solar panel system, it may cost somewhere around $6,500. The government incentivises with $1,890 approximately. In the nutshell, if you install larger, you receive a bigger government rebate for solar panels.
How does the government rebate work?
The Australian government rebates are cleverly laid out. It creates a document called Renewable Energy Certificate (REC). The government mandates fossil fuels driven energy producers to manufacture/install a certain number of renewable energy generator. Alternatively, they can buy the REC.
If you intend to install a solar panel system in Sydney or Newcastle, drill into your head that you have to buy a certain number of RECs. Their number would depend on the size and sun coverage of your solar panel.
The residential solar systems get the small scale technology certificates. If you want to make money out of your STCs, you can sell your certificates to the fossil fuel generators. This is how you can balance out the cost of installing your panel.
The cost of the STC depends on the supply and demand of the solar energy. As it booms outstandingly, its STC cost will scroll down and vice versa. The cost of STC fluctuates, as the price of equities scales up and comes down. But here, you should always remember that the price inclusively shows government rebates on that solar system for sale.
At present, the rebate on the current market price of an STC is worth $630 per kW of that system. However, the increase or decrease in its supply & demand is interwoven. But, they have contradictory relationship. As its supply increases, the STC prices scroll down. Thereby, the subsidy reduces. However, if the demand goes sky high, the STC price sinks to $17. 50, you can get a rebate worth $900.
You should also look into the solar panel zone. The government has already defined four zones. The lower the zone, the more subsidies you can claim. I got a hint from the solarquotes website about the incentives for 5kW solar system as per zone. Have a look below:
Zone 1: $3885
Zone 2: $3663
Zone 3: $3293
Zone 4: $2849
Installing a solar panel guarantees government rebate. So, it’s a good idea to ensure solar financial incentives through installing this system.