Invest in your future by investing in solar energy for your home. By strategically combining the STC rebate and the $700 electricity credit you could see savings of up to $3000 to put towards Solar for your home!
Maximise Government Incentives for Long-Term Benefits
The Western Australian Government is offering a $700 electricity credit for eligible households in 2024. Instead of letting this credit disappear into a few reduced bills, why not make it work for you by investing in solar energy? Combined with the Small-scale Technology Certificates (STC) rebate, you could potentially access around $3,000 in savings to reduce the cost of installing a solar power system for your home.
What is the $700 Household Electricity Credit?
This credit is part of the government’s cost-of-living relief package, designed to help West Australians manage rising electricity costs. Here’s how it works:
Total Credit:
$700 – $400 from the State Government and $300 from the Commonwealth Government.
Automatic Application:
If you’re with Synergy or Horizon Power, this credit will be automatically applied to your account in two instalments: $350 in July-August and $350 in December-January.
Eligibility:
You must have been a Synergy or Horizon Power customer as of June 17, 2024. Households using third-party electricity providers (such as those in apartments or caravan parks) need to apply through RevenueWA.
Eligibility for the Household Electricity Credit
You’re eligible if:
You’re a homeowner or tenant incurring electricity costs as of June 17, 2024.
Your property is used solely for residential purposes (this includes granny flats and dual-key properties).
You’re billed through Synergy, Horizon Power, or a third-party provider (with some exceptions needing to apply manually).
You’re not eligible if:
You’re a landlord, but not incurring electricity costs.
Your property is primarily used for short-stay accommodation (like Airbnb).
Your electricity provider is through an employer-provided subsidy without direct billing.
What are Small-Scale Technology Certificates (STCs)?
STCs are a government rebate designed to reduce the cost of installing renewable energy systems like solar panels. When you install a solar system, you earn a certain number of STCs based on the system’s size and the amount of renewable energy it will produce. When you install a solar system under 100kW, STCs are generated based on your system’s size and location.
STC Values
Each STC has a dollar value, and you can trade or redeem them for a discount on your solar installation. Depending on your system size, you can often earn thousands of dollars in rebates.
STC Volumes
The number of STCs you receive depends on your location, system size, and expected solar output. For a typical residential installation in Perth, the STC rebate can offer a substantial reduction in upfront costs.
Zones and Calculation
Australia is divided into four solar zones, each influencing the number of STCs generated. The more sunlight your area receives, the higher your rebate potential.
How STCs Lower Costs
STCs act as a financial incentive, reducing the upfront cost of solar installation. For example, a 5.44kW system in Zone 3 (WA) could generate around 75 STCs. At $37 per certificate, this could result in a $2,775 rebate.
Why Act Now
Each year, the STC rebate decreases as the scheme phases out by 2030. Installing solar sooner allows you to maximise your rebate and take advantage of additional incentives like the $700 Household Electricity Credit.
Combining the $700 Credit and STC Rebate: A Smart Investment
By leveraging the $700 Household Electricity Credit with the STC rebate, you can significantly reduce the cost of solar panel installation. Here’s how:
Use the $700 Credit:
Apply the government electricity credit towards reducing your electricity costs immediately or as part of your solar installation.
Maximise the STC Rebate:
Depending on the size of your system, the STC rebate could save you anywhere from $1,500 to $3,000 on the upfront costs of installing solar panels.
Turn Short-Term Savings into Long-Term Benefits:
Instead of just enjoying a small reduction in your bills, investing these savings into solar power ensures long-term financial and environmental benefits for years to come.
Let’s Break it Down
3kW Solar System in Zone 3
A 3 kW solar system in Zone 3 will be eligible for around 28 STCs. At the current rate of $37 per STC, this provides a rebate of approximately $1,051 (28 x $37 = $1,051). Given that a typical 3 kW system costs between $3,500 and $5,000, this STC rebate could cover 21% to 30% of your installation costs.
10kW Solar System in Zone 3
A 10 kW solar system in Zone 3 will be eligible for around 95 STCs. With each certificate valued at $37, this leads to a rebate of approximately $3,506 (95 x $37 = $3,506). Considering that a typical 10 kW system costs between $9,000 and $13,000, the rebate could cover 27% to 39% of the total cost.
Why Now is the Perfect Time to Invest in Solar
Western Australians are facing rising electricity costs, and the future of energy prices is uncertain. Here’s why investing in solar now makes sense:
- Protect Yourself from Rising Costs: Solar power allows you to generate your own electricity, reducing your reliance on the grid and shielding yourself from future price hikes.
- Maximise Government Support: With the combined benefits of the $700 credit and the STC rebate, now is the best time to reduce the initial investment needed for solar.
- Long-Term Financial Benefits: Solar panels often pay for themselves within a few years, and with their long lifespan, the savings continue for decades.
How Clean NRG Can Help
At Clean NRG, we’re committed to helping Western Australians make the most of their electricity credit and STC rebate. Our team will design and install a solar system tailored to your home’s needs, ensuring you get the best return on your investment. We’ll guide you through every step of the process.
Don’t let your $700 Household Electricity Credit go to waste on short-term savings. Instead, invest it in a solar system that will provide long-term energy independence and financial benefits. By combining this credit with the STC rebate, you can reduce the cost of solar installation by thousands of dollars and enjoy savings for years to come. Take advantage of this unique opportunity to future-proof your home’s energy supply and contact Clean NRG to start saving today.