How The Solar Panel Rebates Will Change In NSW in 2023

How The Solar Panel Rebates Will Change In NSW in 2023

If you’re considering solar panel for your home, you’re probably aware of the solar rebates and grants on offer. However, these rebates are not fixed and can be subject to change over the years.

Want to learn what the solar rebates will look like in 2023? 

Keep reading as we discuss the solar rebate, how you can access it, and how it will change in the upcoming year.

What Is The NSW Solar Rebate?

The NSW solar rebate program makes solar panels more accessible to citizens living in NSW. The government has created a mission statement to reach Net-Zero emissions by 2050, and the solar rebate is essential in making this happen. 

It provides homeowners with a rebate of up to $7000 or a loan for solar panels. However, this rebate is not without stipulations, and you must meet the following requirements to access the funds:

  • The solar panels must be compliant with industry standards.
  • You must have the solar panels fitted by a professional installer registered with the SSTC program.
  • You must be a homeowner.
  • You must be receiving the Low Income Household Rebate.
  • You must wait to install solar panels at your home.
  • You must live in an eligible region.
  • Your home must be suitable for solar panel installation.

If you meet these requirements, you may apply for the solar rebate. To apply, you can contact your local solar panel installer registered with the NSW rebate establishment and enquire about the program.

How Will The Solar Rebate Change In 2023?

Every year, on January 1st, the solar rebate reduces. This change is part of the phase-out program, aiming to reduce the rebate to 0 by 2031. So, if you’re planning on applying for a solar rebate in 2023 after January 1st, you should be aware that the rebate will reduce from last year. Ensure that whatever source you use to find out about the rebate is up-to-date. 

The reduction should motivate you to move your plans for solar panel installation closer, as you won’t get as much support next year or the year after. 

Regarding subsidies, in 2023, you can expect to receive a discount between $2000 to $7000 on the upfront cost of your solar panels. The upfront cost of your solar panels will increase by 4-5% yearly.

Where you would be eligible for 124 STCs in 2022, you will only be suitable for 110 STCs in 2023, so you will have 14 fewer certificates toward your solar panels.

Why Use The Solar Rebate In 2023?

If you’re taking advantage of the solar rebate to fund your solar panel installation, there is no time like now. Acting quickly and installing your panels this year will give you around 5% more off the upfront cost than next year. So, you should consider investing in them as soon as you can. Below are other reasons you might consider installing solar panels in your home this year.

The Cost Of Living Crisis

The pandemic and the Russia-Ukraine conflict have caused a spike in the cost of living for many citizens worldwide. Everyday food items are becoming more expensive, and energy costs are rising. The energy crisis is driving many homeowners toward sustainable energy alternatives. Living independently from the grid will prevent you from falling victim to fluctuating energy prices. Decreasing your energy expenditure will improve your quality of life and place you in a more advantageous position to cope with the cost of living crisis.

Global Warming

Global warming is at the top of the mind for many people, and if your new year resolve is to reduce your impact on the planet, solar panels are a great place to start. Solar panels can help you to decrease your carbon footprint without using less energy. You can still enjoy your tumble-dried clothes, night lights, and air conditioning without feeling guilty about your impact on the planet. Solar panels align with any green new year’s resolution, providing sustainable and reliable energy.

Increasing Your Home’s Value

Now more than ever, homebuyers seek energy-efficient homes when purchasing a property. The cost of living crisis has changed how people buy homes, and the focus has shifted heavily towards monthly energy bill costs. Taking advantage of the solar rebate now will help you to increase your home’s value and make it more attractive to prospective buyers when you sell. 

Increasing Your Savings Pot

The pandemic and recent cost of living crisis have taught us the importance of life savings, and there is nothing to say that the future will not be just as turbulent. You can ensure a steady savings pot with the money you save from your solar panels. The more savings you have, the more resources you will have should another global emergency arise.

Profitable Energy

If your solar panels generate more energy than you need, you can sell this energy back to the grid and make a profit. So, not only will you save on your energy expenditure, but you can also create more profit each month. 

Access Your Solar Rebate Now

Now is the best time to use the solar rebate and make the most of the government’s offering. If you’re considering changing your energy usage, the solar rebate can help you become less vulnerable to fluctuating energy prices. 

You can reach out to our team of certified solar installation experts here at SolarPath. We can help you access your solar rebate and get the help you need to access solar and sustainable energy.

Read Also:
6 Reasons Why Tubular Skylights Are A Great Investment For Your Business
How Far Does Solar Installation Sydney Can Keep Your Savings?

Enquire Us Contact Us Solar Path NSW
Back to Top Solarpath | Solar Path NSW GPS Directions