Both Federal and State Governments offer a number of incentives for home owners and businesses to go Solar.
Solar Power
On 1 January 2011 the Renewable Energy Target was split into LRET – (the Large-scale Renewable Energy Target ) and the SRES (Small-scale Renewable Energy Scheme).
- RECs created from 2001 to end 2010 are reclassified as Large-scale Generation Certificates (LGCs) and will be placed in the Register of Large-Scale Generation Certificates.
- Renewable Energy Power stations will create LGCs from 1 January 2011.
- RECs created for Solar Water Heaters (SWH) and Small Generation Units (SGU) installed after 1 January 2011 will be classified as Small-scale Technology Certificates (STCs) and will be placed in the Register of Small-scale Technology Certificates.
The major Federal Government incentive now for Homeowners is trading STC’s.
An STC can be classified as a currency where one megawatt hour of power equals one STC. Many Solar companies account for the value of the system’s STCs and will in turn reduce the price of your Solar Power system accordingly.
For further information visit https://www.rec-registry.gov.au/home.shtml.
Solar Hot Water
The Federal Government from November 1, 2011 have changed the policy surrounding the Solar Hot Water Rebate. Now to be eligible for the rebate under the rebewalble energy bonus scheme (REBS) your system must generate at least 20+ small-scale technology certificates (STCs) at the time of purchase.
The Office of the Renewable Energy Regulator (ORER) determines the number of STCs assigned to hot water systems. From 1 November 2011 ORER will apply a new calculation method for the number of STCs assigned to hot water systems.
As a result some systems will no longer attract the minimum 20 STCs required to be eligible for the rebate under REBS.
Therefore, it is important that you check with your supplier or the manufacturer that the system you are purchasing attracts 20 STCs or more from 1 November 2011.
Alternatively, from 1 November 2011, the new STC value of your intended system will be available on the ORER website when using the SHW Calculator.
For further details visit http://www.climatechange.gov.au/government/programs-and-rebates/solar-hot-water.aspx or https://www.rec-registry.gov.au/home.shtml