In August 2009, the Federal Labour Government introduced the Solar Credits Scheme which entitles home owners, businesses and non-profit organisations to a subsidy in the form Small Technology Certificates (STC). The number of STCs you’re entitled to and therefore the size of the assistance you will receive depends on the system size installed (in kWs) and the amount of solar radiation your location receives.
- The rebate is given as a discount on the price of the system by HJ’s Electrical and Solar so you don’t have to claim it yourself.
- There is a small amount of paperwork to complete on signing up and then on the day of installation. We will help guide you through this process.
- It is not Means Tested.
- You can claim the assistance once per property however there’s no limit on the number of properties you can claim for.
Solar Credits Scheme
- Is a way for energy providers to pay you to put solar on your roof to make up for the shortfall in their renewable energy production.
- Over the next 15 years, your system, depending on its size, will produce a certain amount of electricity measured in megawatt hours (mWh).
- For every 1 mWh of electricity that your system is expected to produce over the next 15 years, you’re entitled to 1 Small Technology Certificate (STC).
- We will sell the STCs to a broker on your behalf who will then sell them to an Energy provider who hasn’t met their target.
- You’ll receive the value of the STCs as a discount on the purchase price of your system.
- At times when large companies aren’t meeting their targets, they need to buy STCs and so the price per certificate goes up.
- The higher STC price means a larger rebate which means lower system prices > more systems are subsequently installed across the country.
- The higher number of systems means more renewable energy is produced which reduces the market price for STC’s.
Below is an example
A 1.5 kW system in Canberra will produce around 31 mWh over a 15 year period so you as the home owner are entitled to 31
STCs, which currently trade for around $28 each. This means the rebate for a 1.5kW system should be around $868.00 (31 x $28).
Obviously the larger the system the greater the amount of STC’s are generated and therefore larger the rebate will be.