The potential to save money over the long term is a major incentive for many people considering solar.
Beyond long-term energy savings, you may also be eligible for government rebates that can help contribute to the cost of purchasing a solar system.
Eligibility can depend on where you live and which programmes are currently available.
Once your system is installed, you can also export excess solar energy back to the grid.
Your energy retailer may compensate you for the exported electricity through a feed-in tariff, or FiT.
The Federal Government provides financial incentives for people who invest in solar through Small-scale Technology Certificates, or STCs.
The number of STCs available is based on your location and the amount of energy your solar system is expected to generate.
Under this scheme, customers may be able to significantly reduce the upfront cost of installing a solar system.
Installers generally sell the certificates on behalf of the customer and deduct the value from the installation cost.
To be eligible, your system must be less than 100 kW in size, installed by a Clean Energy Council, or CEC, accredited professional, and use solar components approved for use in Australia by the CEC.
Some additional incentives are also available through state and territory governments.
These are applied independently from the national rebate programme.
| State or Territory | Rebates & Incentives |
|---|---|
| NSW | The Empowering Homes Solar Battery Loan offers eligible households interest-free loans of up to $14,000 towards a solar PV and battery system, and up to $9,000 towards retrofitting a battery to an existing system. The Solar for Low Income Households programme is also being trialled for eligible concession card holders. |
| QLD | The Solar for Rentals trial offers rebates of up to $3,500 for eligible landlords. The Queensland Government has also offered interest-free loans for solar and storage. |
| VIC | Victoria offers a Solar Homes Rebate of up to $1,888 and a Solar Battery Rebate of up to $4,838. Solar Hot Water Rebates of up to $1,000 may also be available for eligible households. Rebates may be combined with interest-free loans of up to $1,888, repayable over four years. |
| WA | Western Australia does not offer additional rebates beyond the Federal STC programme. |
| SA | South Australia’s Home Battery Scheme offers rebates of up to $4,000, with low-interest loans also available. |
| NT | The Northern Territory does not offer additional rebates beyond the Federal STC programme. |
| TAS | Tasmania does not offer additional rebates beyond the Federal STC programme. |
| ACT | The ACT Solar for Low Income Program offers a subsidy of up to $2,500. The Next Generation Energy Storage programme also offers a rebate of up to $825 per kW for systems up to 30 kW. |
Another way you can save money with solar is through a feed-in tariff, or FiT.
A FiT is a credit you receive for excess solar energy generated by your system and exported back to the grid.
This credit is paid by your electricity retailer and is usually deducted from your electricity bill.
For each kilowatt-hour, or kWh, of energy your household exports to the shared grid, you may receive a FiT between 7 and 22 cents per kWh.
Prices can vary depending on your circumstances, the state you live in, and your electricity retailer.
The value of a FiT can be an important factor to consider, as it can influence the overall financial outcome of owning a solar system.
Make sure to compare retailers to determine the best available FiT rate for your household.
You can also ask your solar provider what your expected self-consumption to export ratio may be, and what financial outcome you could achieve.
Alternatively, you can compare energy plans through Energy Made Easy to see how much FiT you may be able to receive.
Smart Energy Answers is one of Australia’s leading solar solutions providers based in Sydney.
We are proud to have attained one of the highest accreditation levels in Australia.
As a CEC Approved Solar Retailer, we are committed to helping communities gain energy independence through the latest technologies and high-quality service.
To get started on your solar journey, contact Smart Energy Answers today on 1300 948 619 or email info@smartenergyanswers.com.au.
