Current Government STC Rebate for Solar Panels
If you are looking for information on the government STC rebate for solar panels you are more than likely considering whether or not to install solar energy for your home. You are also probably trying to determine the cost of solar panels and solar installers in Brisbane and weighing up the benefits against the costs. So, you most likely need to know how much the STC solar rebate is.
STC’s (small trading certificates) are government incentives introduced as part of the RET (renewable Energy Target). They are designed to help reduce the upfront cost of installing solar, on either your home or business. The value of the STC rebate for your solar installation differs depending on it your solar system’s size and location.
There are a couple of options as to how this STC solar subsidy can be obtained, but the most common option is for home owners to claim for an upfront discount.
The graph below provided by the Clean Energy Council is current as of June 2016. (http://www.solaraccreditation.com.au/consumers/solar-faq.html). This chart should assist you in understanding the government STC rebate for solar panel installation.
From this chart, you can see that for an average home in Brisbane the subsidy amount that you are likely to obtain from the government, in the form of a solar STC subsidy, is around $2,170 for a 3kW system and $3,640 for a 5kW system.
The actual STC rebate may be different, depending upon the amount of panels you install and when you install them. Also don’t forget that the price offered for each STC may vary, and at the moment it is at a very high price of $39 (June, 2016).
The days of obtaining a major electricity rebate payout from the grid, for excess energy that you have generated, are now gone. Previously, a solar owner could receive a hefty 50 cents for each kilowatt hour of energy that was returned the grid. However, this has now been reduced to an average of 6 cents, but that does not mean that solar is not worth installing.
The Good News – Cost of Solar Panels and Solar Energy
The good news is that the cost of solar panels has reduced significantly over the last five years. Even better news, is that while costs of panels have fallen – at the same time solar panels have improved in performance, durability and the amount of energy converted.
It gets even better!! Solar panel systems now have the capacity to store energy which means you can double the savings on your electricity bill.
This has occurred due to the development of solar batteries that store unused converted energy during the day, for night use. Some of you may have already been caught up in the hype surrounding the much lauded Tesla power wall and many of the other brands own versions, such as LG Chem, Samsung and Redflow.
Currently the cost of these batteries is still rather high. However, there is a way around this. You can have a solar panel system installed now, that can be retrofitted for the battery storage once the battery prices fall. And they are falling fast. There will be more to follow on this topic regarding type of battery and compatibility with new and existing inverters.
The good news regarding government STC rebate for solar panels is, that they are still available now – and you can have the best of both worlds. Obtain the government’s solar STC rebate now, before it is stopped, install your retrofit solar panel system now and then, benefit from a huge decline in your electricity bills. When the price of solar batteries falls, you can then have them installed in your solar system, ready and poised to take advantage of this great saving.
The Bad and Good News – Government STC Rebate for Solar Panels
The bad news is that the government rebate for solar panels has fallen over the years and a progressive plan to phase out this rebate begins on 1st January 2017, with an initial 6% reduction which will continue each year until 2032. This means that for a regular 5kW domestic install there will be a reduction of approx. $250 in solar panel installation rebate available. This can be considered to be the price of at least one solar panel. There is no better time to install solar, before the federal solar rebate begins to disappear.
Furthermore, you may well remember the furore last year, when the Renewable Energy Target (RET) was almost scrapped by the Abbott government. In fact, it was saved by only one vote in the senate.
If the RET had been scrapped, the federal solar rebate would have gone with it, and solar would have increased in price by about 40%.
As mentioned earlier, current legislation means that the STC solar rebate will start to reduce by 1/15 every year from January 2017 until it drops to 0 in 2032.
What most people aren’t aware of, is that the dollar value of this ‘solar rebate’ could plunge at any time if demand for solar systems suddenly increases.
Thus, we highly recommend the installation of your solar system before the government solar system rebate ends. As well as this, we suggest that you ensure that you install a solar system with inverters that can be easily retrofitted to include energy storing batteries for night electricity use. It is generally accepted that if you live in Queensland, installing even a small PV system on your home will save you money.
For a detailed quote on both the cost of solar panel installation for your home, as well as your STC rebate that you will obtain, please call us on 0433 209 393, or email jason@globeelectrical.com.au for free advice!
Why Choose Us For Solar Installation?
At Globe Electrical Solutions, we are qualified and experienced electricians who are well placed to advise you on the optimum solar panel energy system for your home. We will suggest a solution that is the most cost-effective in terms of the amount of power generated, related to your current and likely future energy needs, as well as the system that would be durable and affordable whilst providing the energy needs that you require. We are not in the business of under-quoting, that is providing and installing a solar system that will not provide sufficient electricity for you. Nor are we in the business of over quoting, that is installing an oversized system which will cost you more and generate more electricity beyond your requirements.
We handle the entire process for you, you don’t even need to fill in any application forms or wait for the solar STC rebate. This is just part of the Brisbane solar installation service that we provide.
