The Small-scale Renewable Energy Scheme (SRES) allows those installing solar on their homes or businesses to claim a rebate in the form of Small-scale Technology Certificates (STCs). These STCs are typically received by those having solar installed as an up-front discount from their solar installation company that can amount to thousands of dollars off the cost of installation.
The ACCC (Competition and Consumer Commission) briefed Federal Liberal and National Party MPs yesterday on its recommendation to wind down the scheme much earlier than planned. Originally the scheme was set to phase out by 2030 but the ACCC has recommended this be brought forward to 2021 and has included the option to abolish it immediately.
Today the government has accepted the ACCCs recommendation and taken a step towards prematurely abolishing the Small-scale Renewable Energy Scheme meaning the cost of installing solar is likely to increase dramatically.
What this means for you
We now know that the likelihood of the SRES ending in the very near future is almost certain. On a typical 5kW solar system you will currently receive a STC discount of around $2300-$2500, around 25% of the cost of installation. If you have been considering installing solar the time to move ahead is now! Delaying installation could cost you thousands of dollars. Contact us today, while the rebate is still available, to arrange a quote using the form below or call the office on (03) 5148 9479.