For all the talk around rebates, if they are increasing or decreasing, how does it affect you? Will Solar power rebates end? How would this affect your business? Read on to find out:
To put it plainly, the best way to save up on rising energy costs is to install a PV Solar System for your business. The first benefit of installing a system comes from the Australian Government’s rebate scheme. System installations of up to 100kW are eligible for rebates, commonly known as STCs.
Solar industry benefits from a government incentive, the ‘Renewable Energy Target’ (RET). Under the Small-scale Renewable Energy Scheme, households and businesses that install solar power systems up to 100kW, receive Small-Scale Technology Certificates (STCs) for every megawatt-hour of renewable energy generated or displaced by an accredited solar panel.
What is the amount of rebate you can get on a commercial solar panel installation now?
To know how much of your investment you can recover, you need to ensure that your solar providers are accredited CEC installers. Here at AYKA, we pride ourselves in our installation quality as CEC Accredited retailers & installers, and you don’t need to look any further. You can visit this link to get a free quote and have our commercial solar experts return to you.
What’s different in 2021?
The deeming period, which is the value of the solar system’s expected lifetime, will go down by one year every year until 2030. Although this value of the STC’s is gradually dropping, Solar’s cost is dropping with it. And so these value contrasts will even out gradually.
Therefore in 2020, the deeming period has assumed that your solar system would be active for 11 years. In 2021, this value has now become 10 years.
If you installed a 6 kW system on December 31st, 2020, it would receive a total of 91 STCs. However, if you install the same system on January 1st, 2021, it would receive 82 STCs. An estimate of individual STCs can occur somewhere in the range of $0 and $40, thus, accepting an estimation of $38 per STC, which is a difference of $342.
But as mentioned before, the price of solar systems is continuing to fall, so you as a consumer would not be as affected by this price difference as you feared. Don’t let this hold you back from investing in solar. The efficiency and system power is increasing, and this added cost is nothing compared to the entire amount you stand to save.
Click here to speak to our Solar experts today to know which system size is best for you.