Solar Rebates and incentives have created a high demand for solar installations over the past 12 months. Since the Solar Victoria rebate was introduced in August last year, 46,000 solar systems have been installed under the program, many of those installation have been in the Gippsland region. The Solar Victoria Battery rebate was also expanded to include some Gippsland locations this month. Right now, there has never been a better time to install solar with the up front cost of installing a 6.6kW system reduced by around $7,700, but from the 1st of January 2020 that will change.
There are several things you should be aware of if you are considering installing a solar system in the near future.
Here’s what you need to know.
Solar Victoria Rebate Reduction
There are changes coming for the Solar Victoria Solar PV rebate program. The number of rebates available per month as well as the amount of the rebate offered will both drop.
Since the program began the maximum amount for the rebate has been $2225 with an additional $2225 available as an optional interest free loan. As of January 1, 2020 the maximum rebate amount will drop to $1888 and from July 1, 2020 it will reduce further to $1850.
Those considering installing solar should plan to secure their Solar Victoria rebate before the final release for the year on December 17 to access the higher rebate amount. To make this happen, the first thing you need to do is arrange for a solar quote. Please fill in our quote application form (below) and include a copy of your latest electricity bill to ensure a faster turn around time. We will then contact you to discuss further and arrange an appointment with one of our estimators.
Details of the changes released by Solar Victoria are available below:
In addition to a reduction in the Solar Victoria rebates, the number of STCs available for solar installations drops on the 1st of January each year until the year 2030 when the program ends.
Every eligible solar system installed in Australia has an allocation of federal government issued Small Scale Technology Certificates. These certificates, known as STCs, are typically applied to your installation as an up front discount by your solar retailer. The STCs your solar installation is eligible for is based on the size of the system and how much power that system will generate between now and the year 2030. As a result, that amount drops every year we get closer to 2030.
Each STC has a value which fluctuates based on certificate trading on the open market. As an example, in 2019, a 6.6kW solar system is eligible for 93 certificates, if the current value is $35 that would mean a discount of $3,255 for the solar installation. In 2020, that same 6.6kW solar system is eligible for just 86 certificates so the discount drops to $3,010 which increases the cost of the solar installation by $245.
Get started now by filling in the form below and attach a copy of your latest electricity bill to expedite the process. We will contact you to arrange a quote.