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Solar Panel Rebate: How It Works And How To Get It

By admin | August 14, 2023 |

Australia has a target to meet net-zero emissions by 2050. As part of this effort, the government is offering financial aid to support the adoption of solar technologies.

If you have been contemplating switching to a solar power system for your home, now is the perfect time to take advantage of the solar panel rebate program.

By participating in this program, you can eliminate the worry of upfront costs and gain easier access to solar power systems. In this article, we will delve into the details of the solar panel rebate – understanding how it works, the process of obtaining it, and the numerous benefits that come with embracing a solar power system for your home.

What Is The Solar Panel Rebate?

The solar panel rebate is designed to provide homeowners with up to $2,000 for installing solar power systems. The NSW solar panel rebate is free for anyone who lives in New South Wales, helping you to cut the cost of solar panel installation by up to a third.

The solar panel rebate works based on STCs (small-scale technology certificates) which are incentives you can claim in the solar panel rebate. The number of STCs you receive can vary depending on your location and solar power system size. A solar power system size of 6.6kW will mean that you have 109 STCs. Of course, this may vary depending on the level of sun exposure and solar power system generation potential in your area.

Those who live in low-income households can swap their rebate for a free 3kW solar power system via the Low Income Household Rebate scheme.

If you wish to access the solar panel rebate, there are some things to remember. For instance, the Clean Energy Council (CEC) must approve the solar power system components you choose. And the installer you choose must also be approved by the CEC.

Who Is Eligible?

Here are some of the eligibility criteria for the NSW solar panel rebate:

You must be a homeowner in New South Wales.
Your property must be eligible for installation and must be a residential property, small business, or community property.
Your total household income must be less than $180,000.
The solar power system must be brand new.
The solar power system cannot exceed 10kW.
You must be a first-time applicant for the solar panel rebate (unless you are using the solar panel rebate swap).

Here are the eligibility criteria for the solar panel rebate swap:

You must currently receive the Low Income Household Rebate.
You must own your home.
You must not already have a solar power system installed.
You must agree to forego your rebate for 10 years.
You must live in an eligible region.

How To Access The Solar Panel Rebate

If you have decided you would like to take advantage of the solar panel rebate, here are the steps you should take:

Select an eligible CEC-approved solar power system, including a solar power system and inverter.
Find a solar panel installation company approved by the rebate scheme.
Calculate the STCs you can claim for your system.
Obtain and complete the compliance paperwork.
Create your STC certificates with the REC Registry within 12 months of installation.
Validate your STC certificates with the Clean Energy Council.
Find a buyer for your STC certificates or place them in the STC clearing house queue for sale.

The NSW government will automatically reimburse you for up to 33% of the cost of solar panel installation via the Small Scale Renewable Energy Scheme. When you sell your STCs, you can generally expect to receive around $43 per STC.

Benefits Of Using The Solar Panel Rebate

Let’s explore what you stand to gain from taking advantage of the solar panel rebate.

Financial Savings

You can save up to 33% of the installation costs for your solar power system by adopting the solar panel rebate. Solar panel installation is a significant investment, and saving on upfront costs can help you to reach ROI faster.

Sustainability

The solar panel rebate is part of the government initiative to make Australia more sustainable. By participating in the solar panel rebate, you can support these efforts and influence real change. Sustainable choices will prolong our planet’s life and reduce global warming’s impact.

Lowered Energy Costs

In addition to reducing your household’s carbon footprint, the solar panel rebate can help lower your monthly energy bills. With the recent energy crisis, reducing your reliance on grid power can help you to combat fluctuating energy prices and gain some security.

Increased Property Value

Since solar power systems help lower monthly household energy prices, they can also raise the property’s value when it’s time to sell. Buyers will pay more for a property if they know their monthly energy costs will be low. When considering the ROI you receive from your solar power system, you should also factor in the increase in property value.

How Do I Find Approved Solar Installers?

The solar installer you choose must be approved by the government scheme and accredited by the Clean Energy Council. On their website, you can use the accredited installer search to find solar panel installation experts in your area. If you have an installer in mind, you can use this tool to check their accreditation status.

You should also ensure that the Clean Energy Council accredits the components of your solar power system. Not only will this ensure compliance with the rebate requirements, but it will ensure that the parts are high quality. If parts are not CEC accredited, they could be used, or components could be switched out for cheaper alternatives in an attempt to scam you. Opting for CEC-accredited parts will ensure reliability and quality.

Final Thoughts

The solar panel rebate is helping to make solar panel installation accessible to low-income households. If you plan to use the solar panel rebate, you should understand what STCs are and how to claim them. You should also prepare a list of accredited solar installers and solar panel providers in your area.

For solar installation in NSW, why not reach out to SolarPath? We provide solar power systems and solar installation you can trust, and our friendly team of solar experts is always happy to answer your questions.