The Renewable Energy Scheme was established in 2011 to make solar a more affordable investment for Australian households and to kickstart the nation’s solar industry.
The average rebate is between $3,000-$4,000 — that represents a third of the cost of the average premium system — and is legislated to reduce at a rate of 15 percent, year-on-year, from 2017 until 2030 when the scheme ends.
But the future of solar incentives is less than certain.
The Government is under pressure from commercial energy supplies, certain organisations and political bodies to cut domestic solar incentives as soon as possible.
While it’s likely that renewable energy rebates will be around in some form for a while to come, market competitiveness makes it likely that these subsidies will diminish in time.
All this considered, 2019 is as good a time as any to consider a solar power system while there is a certain opportunity to claim the rebate and start saving on your power bills sooner.
FEDERAL INCENTIVES FOR DOMESTIC SOLAR
● The Small-scale Renewable Energy Scheme is the Federal Government’s flagship solar rebate program and is available to all Australian homeowners. You can read through the eligibility requirements here.
● Under the Scheme, the rebate reduces each year for next 12 years before being abolished altogether, meaning that waiting will cost you.
● The value of the rebate depends on the size of the system you install (capped at 100 kilowatts) as well as the region or ‘zone’ in which you live. One Power Solar advisors can calculate your rebate entitlement as part of your no-obligation assessment.
● Apart from solar panels and arrays, the rebate can also be claimed for approved small scale renewable energy systems including wind turbines and hydro systems, as well as eligible hot water systems.
● Commercial operators can also apply for the rebate provided the system is no bigger than 100kW.
PROPOSED HOME BATTERY PROMISE
The Federal Labour Government has proposed a new subsidy on Home Battery Storage which would come into effect in 2020 — should Labour win and keep their promise.
The proposed incentive would make it viable to consider a home battery with your solar system and enable more households to play a part in managing peak demand, as well as reducing your energy costs.
● A rebate of $2000 will be available to 100,000 households with a combined income of less than $180,000.
● Currently the average battery costs between $4000 and $10000 your One Power advisor can talk you through low-cost finance options to cover the outstanding balance.
● You are not eligible to claim the rebate if you have already received a battery rebate from your State or Territory.
SNAPSHOT: ENERGY REBATES, SUBSIDIES AND DISCOUNTS IN AUSTRALIAN STATES AND TERRITORIES
There are specific rebates, subsidies, discounts and offers available in each of Australia’s states and territories.
Eligibility requirements may prevent you from claiming both Federal and State incentives, so it’s worthwhile checking where you’ll get the better deal.
NSW SOLAR AND BATTERY REBATES IN 2019
● The NSW Government offers a range of energy rebates and discounts. You can read about what’s on offer here.
QUEENSLAND SOLAR AND BATTERY REBATES IN 2019
● The Queensland Government offers energy concessions, including interest-free loans and grants for solar/battery storage.
SOLAR SAVINGS SUMMARY
The value of renewable energy rebates remains strong in 2019. The rebate, although diminishing each year, still presents a significant saving off the cost of a new solar system.
The promise of battery incentives should Labour win an election would make batteries a viable option for the first time in 2020.
It is a good year for Australian homeowners and small businesses who are considering solar to check your eligibility for the rebate, understand your potential savings, and make the commitment to a cleaner, greener life.
DO YOU HAVE QUESTIONS?
Our friendly, experienced team is able to answer any questions you may have around the rebate, your potential savings and the best system to suit your needs and budget.
We offer no-obligation free assessments and can advise you on no-interest loan options to make your investment more affordable.
You can get in touch by calling 1300 568 589 or you can book an in-house assessment online by clicking here: https://onepower.simplybook.me/v2/.