Solar Incentives

Reducing the up front cost of Solar Power Systems

In todays market if you were to buy a solar system it is often subsidised by a government scheme that is a $ rate per KW Installed. This saving is applied at the point of sale – these savings to reduce the ‘up front’ cost of your solar system.

There is currently a government scheme called the Renewable Energy Target (RET). Under the current legislation the solar financial incentive started to continuously reduce from January 2017.

The dollar value of the solar financial incentive is changeable and goes up and down, so if the demand for solar is high the financial incentive could reduce.

For futher information please ask use at the time of your quote.

How the Solar Financial Incentive Works

The government introduced Renewable Energy Certificates (RECS). It mandates that the fossil fuel generators have to either build a certain amount of renewable generation in the form of wind or solar or buy the rights to other peoples renewable energy systems in the form of RECS.

The type of RECs that you get for your residential solar system are called “Small Scale Technology Certificates”. Normally we handle the assignment of your STCs to the fossile fuel generators and use the cash to offset the up front cost of the solar system purchase. This is known as ‘assigning STCs’.

The STC price is a bit like a share price – it fluctuates on the open market depending on supply and demand i.e. if the industry is booming (usually just prior to the financial incentive being cut!) then the STC price drops and visa versa.

Here at Green Volt we guarantee you the full value of your Financial Incentive when you sign up for a system – It is hassle free as we deal with every aspect of you purchase, Incentive, paperwork, installation and ongoing maintenance should this be required.

We are highly experienced and of course Clean Energy Council Accredited!