Not everyone is aware that there is a major Solar subsidy (aka rebate) currently available to all Australians. This financial incentive generally knocks thousands of dollars off the cost of a family-sized solar PV system. Many Solar consumers are unaware of this subsidy, or STC government incentive, because retailers (such as ourselves) process the paperwork and approvals for all Solar PV systems purchased through our company making it a seamless and lucrative exercise for consumers.
Currently, most homeowners receive a discount of around $3950 for a 6.6kW system. In Jan 2019, the discount will be reduced to around $3600. The government incentive will be phased out gradually over the next 12 years until it eventually ends on December 31, 2030.
That’s a difference of around $350 in only a few months and it is likely to get worse! Early this year there was an announcement to axe the Solar subsidy, leaving supporters for a sustainable future for Australia up in arms.
The ACCC (Australian Competition & Consumer Commission) published a report named the ‘Retail Electricity Pricing Inquiry – Final Report’. Recommending the Government SCRAP this Solar incentive completely.
It could also dramatically reduce in another way… The unit price of the STC could also drop.
Currently, 6.6kW of installed Solar earns 117 STC’s at $33.50 (price as at 7/11/2018) = $3,953
The STC price has been as low as $17, if this happens again it would add around $2,000 to the price of a 6.6kW system.
So why does the STC price fluctuate?
Supply and demand…The more solar installed the lower the STC price.
And right now, business is booming and predicted to get busier. With extra incentives provided by some state governments (VIC, SA, QLD & ACT), we are likely to install more Solar this year in Australia than all other years put together.
NOW IS THE TIME TO INSTALL SOLAR
In Business?
Businesses can expect a 3-year payback… sometimes less than 2 years*.
That’s a 50% Return on your Investment!
Ask your accountant or financial advisor for a better way to invest. We bet you won’t find many.
What next?
Check online reviews of your local Solar Retailers. Solar should always be a long-lasting, long-term investment and quality always pays. Still unsure? Visit the Clean Energy Council website and always choose a ‘Clean Energy Council Approved Solar Retailer’.
Phone Clean NRG Solar for a Free Energy Assessment on 9244 9200. We will crunch the figures for you.
*Payback period based on Clean Energy Council yield estimates on a standard install with no shading or other issues which may affect the performance of the system. Pay-back period will be estimated according to each individual install following a tailored energy assessment carried out by Clean NRG Solar.