Solar panel rebates
Rebates on solar panels and solar hot water systems
Small-scale Technology Certificates (STCs)
The SRES creates a financial incentive (solar panel rebates) for owners to install eligible small-scale installations such as solar water heaters, air sourced heat pumps and small generation units (small-scale solar panel, wind and hydro systems).
Eligible systems are entitled to a certain number of small-scale technology certificates (STC, formerly called Renewable Energy Certificate or a REC) based on a number of factors, including the location (zone) of the solar system, size of the system and the price of STCs at the time the system was installed. STCs are an electronic form of currency created by the Renewable Energy (Electricity) Act 2000 and sold to buyers (usually liable entities).
Australia is divided into various zones based on how much renewable energy can be generated by a solar panel in a given area. For example, a system of the same size in Hobart or Melbourne (Zone 4) receives fewer STCs than systems installed in Perth (Zone 3) because those cities have less sunshine so less solar energy is produced. The Australian government has capped the price of STCs at $40 but the actual value of a Small-scale Technology Certificate can fluctuate daily. Their market value is determined by the supply and demand situation at any one point.
The number of STCs on a solar power system is calculated by multiplying the rated output of the system in KW by the factor of the Zone (Zone 3 = 1.382), multiplied by the deeming period of 15 years, rounded down.
For a 1.5KW system: 1.5 X 1.382 X 15 = 31 STC’s. (Zone 3).
For a 4KW system: 4 X 1.382 X 15 = 82 STC’s (Zone 3)
Importantly for you, the discount that can be claimed on an approved solar power system or solar hot water system can be calculated by:
The number of STCs attributed to that product x STC $Value = Amount received as a point of sale discount
For a 1.5KW system = 31 X $35 = $1085
For a 4KW system = 82 X $35 = $2870
This figure is based on $35.00 STC Value (The consumer guide to buying household solar panels is around $25 to $35.)
Further information available from the Office of Renewable Energy Regulator: http://www.ret.cleanergyregulator.gov.au
In the case of Solar Hot water Systems, the government tests each manufacturer’s system and awards a number of STCs directly relating to the performance of the system and the solar zone where the SHWS is installed. For example a Rheem L32 Australis attracts 30 STCs installed in the Perth area (Zone 3).
Therefore 30 X $35 = $1050 of STC value may be assigned to the system once installed.
Further information available from the Department of Climate Change and energy efficiency.
For more information about Solar Energy Systems contact us today, or visit our display showroom at 153 Belmont Ave, Belmont, WA 6104.