There was a time when solar energy was extremely expensive and only the world’s most affluent consumers could afford it. Everyone was aware of the financial and environmental benefits offered by solar technology, but it simply wasn’t accessible for everyone.
But as time has passed on and the technology has evolved, resulting in a significant drop in prices, solar PV panels have become more affordable.
However, all the credit doesn’t just go to the drastic fall in prices. Credit should also go to state and local governments around the world for offering incentives and rebates to make solar PV systems an attractive investment for homeowners. The Australian Government is among those who are actively taking part in this initiative.
What Government Incentives Are You Entitled to in NSW?
The Australian Government offers solar incentives for both homeowners and businesses in NSW. These incentives, which include feed-in tariffs and rebates, are designed to entice consumers into investing in solar energy. Let’s go through the details of rebates and feed-in tariffs.
NSW Solar Rebates (Small-scale Technology Certificates)
Small-scale Technology Certificates, or STCs for short, are the most popular rebate offered by the Australian government to homeowners and small businesses with eligible generation units. Under this scheme, you can save up to 33% on solar installation costs.
The amount of STCs you receive is based on the size of your system and your geographic location. This means the more renewable energy that your system is producing, the more STCs you will get.
The NSW state government doesn’t have its own solar rebate scheme, but anyone living anywhere in Australia is eligible to receive STCs as long as their small-scale renewable energy system meets the scheme’s eligibility criteria.
The eligibility criteria are as follows:
- The system must be installed no more than a year before the creation of certificates
- The system’s components, such as the panels, batteries and inverter, must be listed on the Clean Energy Council (CEC) list of approved components
- The system must meet Australian standards
- That a CEC accredited installer is hired to install the system, and that the installer meets the CEC design and install guidelines
- That you comply with all local, state, territory and federal requirements, including electrical safety, and
- That you have a small-scale solar panel system with a capacity of no more than 100kW, and a total annual electricity output of less than 250MWh
NSW Solar Feed-in Tariffs
If you are a homeowner or a small business owner in NSW and you have a solar system installed, you can earn money for any excess energy you produce and send back to the grid through solar feed-in tariffs.
However, whether or not you get solar feed-in tariffs entirely depends on the agreement you have with your energy retailer. Retailers have the final say as to whether or not to offer solar feed-in tariffs to their customers. By default, the rate is set per kilowatt hour (kWh) of electricity you produce and the amount paid varies from one retailer to another.
Some retailers offer high feed-in tariff rates but will charge more for electricity. The rate you get is generally lower than the retail electricity price. To ensure that you get the best deal available, here are the factors that you need to consider:
- Feed-in tariff rate
- Cost of electricity
- Daily supply charge
- Pay-on-time discounts
- Late payment fees
Let Kratos Energy Help You Take Advantage of NSW’s Solar Incentives
Kratos Energy is a CEC approved solar installer that takes great pride in the quality of our work as well as our commitment to outstanding results. With our expertise and quality products, we can help you take advantage of the solar incentives that are available in NSW. If you’d like to find out your recommended system size or electricity savings, you can get a free solar quote here.