The cost of energy is increasing for everyday Australians. We are all looking for ways to cut down our electricity bills. Whether it be switching over to energy saving bulbs, or switching off appliances, we can’t deny that there has been an increase of awareness regarding electricity.
In recent weeks, there has been a lot of attention addressing the Solar Power industry, with the Federal Government announcing that the Solar Credit Rebate will be reduced even further from $6,200 to $3,720 depending on the REC’s – Renewable Energy Certificates you receive, now known as STCs ( Small Scale Technology Certificates).
The blow has hit hard for many consumers, particularly in NSW with the feed in tariff closed to new applicants and a confusing state of three separate feed in tariff tiers in place, for already approved installations.
What does this mean?
Consumers who install a solar system are entitled to a certain amount of STCs, as of June 30th 2011, consumers will now only receive a STC’s multipler of 3 rather than 5. So for example (most households) will look to install or have already installed a 1.5kW system, you will receive 1 STC for every Megawatt hour of electricity you produce over a 15 year period. A 1.5kW system will produce approximately 31 STCs, each STC being worth a maximum of $40. So, if we calculate at the maximum possible value – before June 30th with a 1.5kWh you would have received (31 x 5) = 155 STCs x $40 = $6,200. Now that the multiplier has dropped to 3 the most you could be eligible for from a 1.5kW system is now $3,720.
Many people believe that the government should be doing more to encourage consumers to take up solar systems. But it seems the rebates and tariffs are continuing to decrease as State/ Federal Governments are blowing out budgets.
For more information on this and all other solar related issues, visit the Clean Energy Council website.
Interested in getting a Solar Panel before all the rebates and feed in tariffs run out? Check out our online store today.