Federal Solar Credits Program
On the 9th of June 2009, the Australian Government implemented a federal Solar Credits Program. This program essentially reduces the amount of money that customers have to pay on solar systems. This program is designed to span over five year duration, until 30th June 2014 and will assist Australia in meeting its Renewable Energy Target (RET).
Renewable Energy Certificates (RECS)
Renewable Energy Certificates (RECS) are an integral part of the federal government solar credits program. RECS are essentially traded on the solar market for a varying values (depending on system, time, location etc) This meaning that when you buy a solar system from us, the price of the system takes into account the value of the system’s RECs and the price of your system will be reduced accordingly. Eco Delight will take care of all the needed paperwork concerning RECS, ensuring that the whole process will be made a simple as possible.
Premium Feed in Tariff
State governments have designed feed-in-tariffs to encourage homeowners such as yourself to invest in solar energy. Under a premium feed-in tariff, electricity retailers are required to pay owners of solar power systems more than the usual price of electricity for some or all the power that they produce. The amount paid varies from state to state. This is the aspect that potentially means you could MAKE MONEY FROM YOUR SOLAR SYSTEM.
Renewable Energy Certificates (STCs) and Schemes
The Small-scale Renewable Energy Scheme (SRES) is a government initiative which aims to encourage an increase in the amount of electricity generated from renewable sources. When you purchase an eligible solar power system, you receive a number of Small-scale Technology Certificates (STCs) depending on your system’s size and your location.
The amount of STCs you receive is multiplied by 1 (1 January 2013 – onwards) when you purchase a system. This is due to another government program – the Solar Credit Scheme. The multiplier only applies to the first 1.5kW of installed capacity, and is designed to discount the initial outlay. Anything over this threshold has the standard volume of STCs assigned.
Here’s an example of how STCs could work for a solar power system owner in Melbourne:
- Installing a 1.5 kW solar power system means you could be eligible for 26.6 STCs.
- The Solar Credit Scheme multiplies these STCs by 1 (26.6 STCs X 1 = 27 STCs).
- So you could be eligible for 27 STCs X ($STC Value) = $Rebate Amount
- The value of the STCs can be applied to the value of the system you’re purchasing, reducing your upfront costs.
Please use STC Calculator provided by Office of the Renewable Energy Regulator (ORER) for more accurate estimation of eligible STCs