It’s possible that you’ve considered installing solar panels on your home after complaining about exorbitant electricity bills.
There’s no need to feel alone if that’s the case. A solar power system is a worthwhile investment when electricity prices are rising.
But you know you can save more through Solar Rebate NSW. YESS.. If you have the interest in saving your dollars you must read our todays blog detailed on How Solar Power Rebates Work?
Kinds Of Solar Rebates You Get
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Following are the three kinds of solar rebates you can claim from your solar vendor or installers while installing solar panels.
#1. Federal Government Solar Rebate NSW
Small-Scale Renewable Energy Scheme (SRES) is one of the federal government’s renewable energy incentives, which encourage households to install solar panels, solar water heaters, and heat pumps.
As part of this program, numerous small-scale technology certificates (STC’s) are awarded to homeowners and business owners who put solar panels on their rooftops.
Depending on its size, a system may be awarded more or fewer STCs. STCs are awarded for every 1,000 kWh of estimated electricity produced (starting from the day of installation and ending in 2030).
In 2030, the Federal Energy Minister plans to phase out STCs over a period of 10 years, reducing their daily number every year. If you buy a system in 2021, for instance, you will receive STCs for 10 years of energy production (until 2030).
You will be glad to learn that NSW gets sufficient sunlight to produce electricity. If you live in NSW, you will find this information appealing.
In 2021, a 10kW system in NSW gets approximately 138 STCs and amounts to a rebate in the range of $5000-$5500. In any case, this is not a bad thing.
Note – The monetary value of the STC fluctuates based on the supply and demand for the service.
To learn more about SRES, please visit the Australian Government’s Clean Energy Regulator.
#2. NSW Empowering Homes Solar Battery Loan Offer
With the help of the NSW government, homeowners in the Hunter region have been able to install solar battery systems.
The offer offers borrowers an opportunity to obtain an interest-free loan of up to
- $ 14,350 for a solar PV and battery system (repayable over 8 years) , or
- Retrofitting of a PV battery system to an existing solar PV system, costing $9000 (repayable in 10 years).
The offer is available to residents of Cessnock, Lake Macquarie, Maitland, MidCoast, Muswellbrook, Port Stephens, Singleton, and Upper Hunter of Hunter region.
To find out more about eligibility requirements on Solar Power Rebates NSW and how to apply – visit the government website.
In order to decrease your utility bills drastically, you could get a solar power system that is interest-free and has a battery for $14000.
The interest-free loan amount of $14000 would help you get a good solar power system with a battery and would decrease your utility bills drastically.
#3. NSW Solar For Low-Income Households
As a state government, NSW is incredibly generous and has decided to help those with limited incomes. The program is available to up to 3000 households in selected regions of NSW.
According to this plan, 3kW systems will be installed on the roofs of low-income homeowners.
selected regions of NSW are given below:
- Central Coast
- North Coast
- Sydney – South
- Illawarra – Shoalhaven
- South Coast
To be eligible for this offer, one must have either a Pensioner Concession Card or a Gold Card issued by the Department of Veterans’ Affairs.
For details on eligibility and the application process, please visit the Government website.
How Much Will The Solar Rebate NSW Save You?
In a nutshell, thousands. The rate does vary, however. The number of STCs in your system, as well as the amount of money you can save when installing your system, depends on factors such as:
- Your system’s size (i.e. how much energy it generates)
- What part of Australia you live in
Market prices of STCs (which are driven by supply and demand on the renewable energy certificate market, and can fluctuate daily).
Installers will usually calculate the STCs your solar system will be eligible for and how much money you can get back off the purchase price of a new solar energy system when they provide a quote.
Your upfront savings will be discounted. The Government STC calculator can be used to calculate the STC for yourself.
A 6.6kW system could generate around 100 STCs, so you could save thousands on your installation when you get a ‘rebate’ of this kind. STCs usually sell for $35-$40 each.
Looking To Compare Solar Quotes Of Different Solar Installers?
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