Solar Finance | AYKA Technologies

7/13 Brumby St, Seven Hills NSW 2147

0409 707 707

enquiries@ayka.com.au

Solar Finance

Solar Rebates, Incentives & Subsidies in Australia for Domestic and Commercial system installations

Households and small businesses all over Australia that install a small-scale solar energy system now will be able to receive benefits under the Small-scale Renewable Energy Scheme (SRES) in order to help with the purchase cost.

Installing an eligible solar system allows the creation of Small-scale Technology Certificates known as (STCs). These come with a value, which can be redeemed by selling STCs or assigning them. The number of STCs created is based on:

The amount of renewable electricity your solar system produces or the amount of electricity consumption it reduces.

The climate region where you install the system.

Owners have an option for receiving benefit for their STCs:

Assigning them to an agent, the system installer, AYKA Technologies, will usually exchange STCs and provide you a cash discount.

The following factors calculate STCs:

  • Type of renewable energy installed by you (solar, wind, or hydro)
  • Date of your installation
  • Rated power output (in kW) of your system
  • Postcode (location).

For more information on STCs or to use an online STC calculator, visit or contact the Clean Energy Regulator (http://www.cleanenergyregulator.gov.au/RET)

 

The Small-scale Renewable Energy Scheme(SRES) creates a financial incentive for individuals and small businesses who install small-scale renewable energy systems such as solar panel systems. It is done by creating small-scale technology certificates. Renewable Energy Target liable entities are legally obligated to buy these certificates and surrender to the Clean Energy Regulator every quarter.​

​Small-scale technology certificates(STCs) are provided ‘up front’ for the systems’ expected power generation over 15 years or, from 2017, from the installation year until 2030 when the scheme ends. Electricity generated from non-renewable sources is replaced by this renewable electricity. Usually, homeowners who purchase these systems assign this right to create certificates for them to an agent to get payback for a lower purchase price. The extent of this benefit is different across the country depending on the solar energy you produce.

Once the installation of an eligible system is done and the calculation of the amount of electricity your system produces or replaces (that is, electricity from non-renewable sources), Small-scatle technology certificates can be created.

Under the Small-scale Renewable Energy Scheme, all the documents like signed compliance statements, forms, certificates, reports, photos, and invoices must be retained for a minimum period of five years after the Small-scale technology certificates are created.

Certain documentation should be provided while claiming STCs by the registered agents, who have the right to create small-scale technology certificates (STCs). The agent is assigned to them by system owners. The Clean Energy Regulator can request these documents at any time to prove that the system was eligible for STCs.

 

A decade ago, there were less than 100,000 rooftop solar systems installed in Australia. Now in 2021, that figure is over 2.5 million.

This massive increase is due to the increased public awareness of solar benefits—also, a steep reduction in costs of panels and inverters. Solar power systems cost 50% less today to install than they did in 2012.

Solar energy is practically free after installation. It is clean and renewable, and – if done right – it can cut electricity bills substantially.

Now let’s take a look at the rebates, subsidies, and incentives available to you and how you can access them.

Three main sources of solar incentives available to Australian households are from:

  • Federal government
  • State governments (selective)
  • Electricity retailers

Federal Government

All Australian households and small businesses are eligible for a subsidy for solar panels from the federal government. They are called Small-scale Technology Certificates (STCs). The subsidy value varies by location. Although, as a rule of thumb, the cost of solar power systems is reduced by around 30%. This is one of the most valuable solar subsidies available.

State governments

At the state level, the picture is highly varied. There are several state government rebates and incentives for solar and/or home batteries for people who live in Victoria, NSW, South Australia, or the ACT. For people living in WA, Queensland, Tasmania, or the Northern Territory, there are currently no state government incentives for solar or batteries.

Electricity retailers 

Electricity retailers recompense households in all states of Australia for any excess solar power their system generates. This power is exported back to the grid. This is called a feed-in tariff, which appears as a credit on your electricity bill. The value of this feed-in tariff differs from state to state and between electricity retailers. 

Anyone living anywhere in Australia can receive STCs for solar panel installations up to 100kW.

  • One does not need to apply for STCs (Small-scale Technology Certificates) as your solar retailer itself generally applies them as a point of sale discount.
  • Each STC has a dollar value redeemed for you by your solar retailer in a government-regulated market. Then the value of your STCs is reduced from the cost of your system by your solar retailer then deducts
  • There is no such limit for the number of properties you can get STCs for. You can get STCs for your main residence, holiday home, small business, and rental property).
  • This scheme is gradually being eliminated, with a reduction in the value of STCs occurring on 1 January each year until 2030. The scheme will come to an end on 31 December 2030.

How the STC process works with AYKA Technologies

When you select AYKA Technologies as your solar power system supplier and installer, we simplify the process.

  • Submit your contact details here – www.ayka.com.au/contact-us
  • Our Solar Expert team will call & email you a free quote based on the information you provide (Electricity bill), including the amount of the discount you get for your STCs.
  • Accept the quote and pay the deposit.
  • Our Solar Installation team will install your new solar system.

Feed-in tariffs

There are details with the electricity distribution network such as ‘downloads’ and ‘uploads’ of electricity. You are charged by your retailer when you download electricity from the main grid. 

But if you have solar panels installed, you can also ‘upload’ power, and you get paid for this from your retailer. The payment you receive is called a feed-in tariff.

The value that you get paid through feed-in tariff not only varies from state to state but also between retailers. Don’t forget to check the latest solar feed-in tariffs with your electricity retailer, as feed-in tariffs can change.

Electrical work

To be eligible to create small-scale technology certificates, the system must be installed by a licensed electrician. If the electrical wiring does not involve an alternating current of 50 or more volts and a direct current of 120 or more volts, then the system must be installed by a person that has relevant training, experience, and qualifications to perform the work.

Other requirements 

For being eligible for Small-Scale Technology Certificates, all systems must be installed by Clean Energy Council accredited installers and meet relevant Australian Standards, which include:

  • AS/NZS 3000, Electrical installations
  • AS 4777, Grid connection of energy systems via inverters
  • AS/NZS 5033, Installation and safety requirements for photovoltaic arrays
  • AS/NZS 1768, Lightning protection
  • AS/NZS 4509.1, Stand-alone power systems, Part 1: Safety and installation
  • AS/NZS 1170.2, Structural design actions, Part 2: Wind actions
  • AS 4086.2, Secondary batteries for​ use with stand-alone power systems, Part 2: Installation and maintenance.