Solar Panel Credits Program

New Solar Credits Scheme provides upto $7750 in rebates...

On June 9th 2009, the Australian Government announced the early termination of the $8000 Solar Homes and Community Plan (SHCP) rebate and immediatly replaced this with a new incentive scheme called Solar Credits. Read the Goverment Media Release.

Key Points:

There are several major differences between previous rebate scheme and the Solar Credits scheme.

To begin with, the Solar Credits scheme has no means test; this means that there will no longer be an annual income limit of $100,000 in order to be eligible for government discounts.

Another aspect of the Solar Credits scheme that differs from the previous rebate scheme is the eligibility of consumers and businesses alike.

Under the Solar Credits Scheme, Government discounts are applicable to solar system installations on businesses as well as residential properties that are not primary residences - For example, holiday homes and investment properties will be eligible for rebates.

Click here to read the Governments Fact Sheet 

In comparison to the $8,000 rebate scheme, a solar system installed under the Solar Credits Scheme will receive five times the number of Renewable Energy Certificates (RECs) for the first 1.5 kW of the system capacity.

For example: Under the old scheme a 1kW system produced 20 RECs that were traded at an average rate of $40 delivering a $800 point of sale discount in addition to the $8000 Solar rebate.

Under Solar Credits, the RECs will be multiplied by 5 to deliver an equivelent point of sale discount for a 1kW system equal to $4000. As you can see this is a far cry from the previous offer.

However Solar Credits is applied up to the first 1.5kW which would generate around 31 certificates. These certificates are then multiplied by 5 and assuming the REC value is trading around $50 per certificate, this would deliver a point of sale discount closer to $7,750.

What does this mean for you...

Our goal under our flagship Solar Neighbourhoods Program is to deliver a 1.5kW Solar System with 2.5kW inverter and standard installation for an estimated $3,000 conditional upon the value of RECs that the homeowner assignes back to Ecovation at the point of sale.

Together with the current Net Feed In Tariffs such as the QLD Governments Solar Bonus Scheme that pays .44cents for surplus energy sold back to the power grid and depending on your electricty retailer you can get a retailer top up of .06c therefore earning you .50c per kW sold.

We feel this is a very good proposition for those seeking to avoid the forthcomming price hikes in electricity prices commencing July 1 2009.

To speak with a renewable energy consultant about how the Solar Credits Scheme can benefit you contact our office between business hours Mon to Fri 9-5 on 1300 660 180 or click here to sumbit an enquiry.