Are you a homeowner in NSW looking for solar? Today you are fortunate enough to get the detailed info about Solar Rebate NSW scheme available in 2021.
Homeowners in New South Wales pay an average electricity tariff of 30.65 cents/kWh, as per the Australian Energy Market Commission (AEMC) and prices reach up to 55 cents/kWh during peak hours.
However, expensive electricity makes solar even more valuable, with a higher savings opportunity. This is also consider as one of the reasons why people there are getting more solar installations.
But many haven’t the idea of the solar incentive they can avail! That’s why if you don’t wanna fall in that category keep your eyes throughout this blog.
Starting with the basic – what is this Government Solar Rebate NSW?
What’s The Solar Rebate NSW Scheme 2021?
Currently, the SRES is the only program that offers New South Wales solar incentives. Good thing is that this incentive alone reduces the cost of solar installations by approx. 33%.
Here Solar installations with up to 100 kW of capacity are also eligible – making the incentive useful for commercial properties.
The SRES offer incentives through Small-scale Technology Certificates (STC). The calculation is based on the expected electricity production between the installation year and 2030, with one STC awarded for every 1,000 kWh of estimated production.
Though you must get your solar system installed by a Clean Energy Council Accredited Installer to be eligible for STCs credits. Also the solar panels and solar inverters should also be as per the CEC approval list – complying with Australian installation codes.
Still If you need more information regarding the Small-scale Renewable Energy Scheme, you can visit the Australian Government Clean Energy Regulator website also.
Not only this, there are also other incentive programs initiated by NSW government to complement the Solar Power Rebate NSW.
Other NSW Solar Incentive Programs
The NSW government offers two local incentive programs for solar power, which complement the STC incentive:
- Empowering Homes solar battery loan offer
- Solar for low income households
The Empowering Homes program offers interest-free loans of up to $14,000 for new solar systems installation with batteries, and around $9,000 for adding batteries to existing solar installations.
Loans for combined systems have term period of eight years, while loans for battery retrofits with 10 years of payback period.
These loans are available to only those households with income of up to $180,000. The owner must live in the property where the loan is use and connection with power grid.
In Australia, solar batteries cost around $1,000 per kWh,that means a $9,000 loan can finance a 9-kWh solar system NSW.
For combination of solar installations, a 5-kW solar PV system can get finance with around $5,500 but after subtracting the STC points.
In this case, the rest of the $14,000 loan can be use for a battery system.
Solar For Low Income Households Program
The Solar for low income households program offers free solar systems for qualifying homes. The system capacity is 3 kW, and it will benefit 3,000 homes in Central Coast, North Coast, Sydney-South, Illawarra-Shoalhaven, and South Coast.
To get this one, a home must meet the following conditions:
- Currently getting the Low Income Household incentive, and agree to not avail the incentive for 10 years in exchange for the solar installation.
- Having a Pensioner Concession Card or Department of Veterans’ Affairs Gold Card.
- Owning the home for the solar PV system installation.
The program is only available for homes without solar systems. In other words, the free 3-kW installation cannot be use to expand an existing solar array.
NSW homeowners with solar battery systems can also join a virtual power plant (VPP). A VPP connects many batteries together, coordinating them to act as a single power source.
When you join a VPP, the local electricity company gets the access to your home battery, and you get reward for the use of that storage capacity.
Conditions may vary depending on the VPP operator, but you expect to earn around $100 to $200 per year according to the NSW government.
New South Wales Solar Power Feed-In Tariffs
The feed-in tariff (FIT) is the electricity rate you pay for surplus generation from a solar system. A favorable tariff can be considered a type of solar incentive, since unused generation becomes more valuable for homes and businesses.
NSW solar scheme doesn’t offers a minimum FIT, but the Independent Pricing and Regulatory Tribunal (IPART) has established a benchmark of 6.0 to 7.3 cents/kWh.
However, local electricity companies offer FITs as high as 22 cents/kWh.
Apart from Solar Panel Rebate NSW If you have questions like,
Am I eligible for a solar incentive?
How much can I save with solar? And more Get yourself in touch with Top Solar Quote, Australia
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