Government Rebates & Initiatives For Solar Installation For Home Owners
Are you thinking about installing a solar power system at an affordable price for your home? If yes, you are at the right place. NSW is going solar as 24.6 per cent of households already have rooftop solar panels installed. While each state has its own scheme, this is exclusively for homeowners located in New South Wales to utilise the benefits offered by the NSW Government.
New South Wales Solar Rebates and Initiatives
The Government provides attractive rebates and incentives to encourage you to cut down your carbon emissions by going green. Given below are some of the schemes that can help you in choosing the right one for you.
Small Scale Technology Certificates
Under the Small-scale Energy Scheme (SRES), the government awards you Small-scale Technology Certificates (STCs) for your solar power installation. You can sell each of these certificates for around $40 in an open STCs market. You will receive an STC for every 1000 kWh of solar power produced. However, the number of STCs you receive will depend upon your location and the size of your solar system. If you are eligible, you can reduce the solar installation cost by one third, which is about 33%. To be eligible:
- Your solar power system must have a capacity of 100kW. Hence, commercial properties are also eligible for this scheme.
- Your installer must be a Clean Energy Council Accredited installer. And all your components must also be CEC approved.
Empowering Homes Solar Battery Loan Offer
The Empowering Homes program provides interest-free loans for a solar battery system installation by an accredited solar installer. It is a beneficial program that offers loans for up to $14,000 for a new solar battery system and $9,000 for replacing or adding new batteries to your existing system. To be eligible:
- Your household must have an annual income of not more than $180,000.
- You must own and live in the grid-connected home where the loan is used.
So, if you are eligible, you can repay your loans in 8 years for a new system and 10 years for a retrofit. However, you must check if the program is available for your location.
The Feed-in Tariff (FIT) program pays you for the excess solar electricity generated from your solar system. However, the NSW government does not have a minimum FIT. So, the Independent Pricing and Regulatory Tribunal (IPART) has regulated a benchmark of 6.0 to 7.3 cents per kWh and, your local electricity retailers can decide on FIT pricing.
Virtual Power Plant
A virtual power plant program connects many home solar batteries together to form a single power source. So, when you join this program, you agree to give a certain fixed amount of access to your battery to a VPP provider or solar retailer. They can access electricity from your battery during times of high demand, such as hot summers. You can also earn some $100 to $200 a year from this scheme. However, it may vary depending on other factors.
Solar Power For Low Income Homes
Solar power for low-income homes program offers a free solar system with a capacity of 3kW. So, to be eligible for this program:
- You or your spouse must own your house without any existing solar power system.
- Currently, you must receive the incentive for low-income households and must agree to no incentives for 10 years if you opt for solar installation.
- Must have a valid Pensioner Concession Card or Department of Veterans’ Affairs Gold Card.
However, this program applies only to 3000 households in selected locations within NSW.
For more details on the NSW incentives and eligibilities, contact our expert CEC approved team at Always Energy today.