Thought solar was unaffordable? With Government rebates (STC’s) that are used toward the upfront cost of installation and Feed in Tariffs in Victoria, there has never been a more affordable time to install a solar system.Rebates are still currently being given by the Federal government for installing a solar system.
This Federal Government currently offers the following assistance when installing solar power;
- Reduction in the purchase price when you purchase the system through small scale technology certificates (STC’s)
- A payment for the excess power your solar system produces that you don’t use through Feed in Tariffs (FIT’s)
Small Scale Technology Certificates (STC’s)
Small-scale technology certificates, or STCs, are a Federally Funded tradable commodity attached to eligible installations of renewable energy systems (including solar panels, solar water heaters and heat pumps). STCs were formally known as Renewable Energy Certificates (RECs)
Under the Government’s Small-scale Renewable Energy Scheme (SRES), when you install an eligible system, you may be eligible to claim a specific number of these STCs.You will receive 1 STC for every Megawatt of energy your system is expected to produce over the next 15 years.
Electricians on Call will request a customer assign the right to create the STC’s to us in exchange for a discount on the purchase price of the system. You will be invoiced for the “Out for Pocket” price plus the assignment of STC’s created in relation to the system.
The number of certificates you can claim may vary depending on your geographic location, what you’re installing, whether your installation is eligible for Solar Credits, and/or the size and capacity of the installed system.
FEED IN TARIFFS (FIT’s)
Feed in Tariff’s are funded by the State Government and Electricity Suppliers.For each Kilowatt Hour (kWh) of energy a solar system produces which you do not use in your home is sold back to the grid.For every unit of electricity your solar system produces that you consume means that you do not have to purchase that unit from your electricity retailer.
The Feed in Tariffs vary from State to state, some electricity retailers offer additional Feed in Tariffs for switching to them when you install Solar Power.
To take up a feed-in tariff, you will need to sign a contract with an electricity retail company of your choice.
Shop around for the deal that best suits you as different electricity retailers may offer different prices and different terms and conditions.
All retailers with more than 5,000 customers must offer eligible new customers the feed-in rate of a minimum of 8 cents per kilowatt hour.
For more information about Feed in Tariff’s in Victoria please click here
For a free solar assessment contact Electricians on Call or complete the enquiry form on the right side of the page and one of our friendly solar experts will get in touch shortly.