Federal Government Incentives
The Solar Credits Scheme replaced the Solar Homes & Communities Scheme in June 2009. Solar Credits are provided in the form of Renewable Energy Certificates (RECs) for people who install a new photovoltaic solar system. The scheme applies to households, businesses and community groups and is not means tested.
Solar Credits provides a 5 X multiplying effect to the RECs that can be created for the first 1.5 Kw of capacity of the eligible installation. The value of this incentive depends on the current price of RECs (which varies over time) and the location and size of the system.
For example a 1.5 Kw system in Perth would receive 31 RECs multiplied by 5 under the scheme or 155 RECS. The value of a REC is dependant on the current market rate. In our experience it has varied from approximately $25 to $45 per REC over the last few years (or totals of $3,875 to $6,975). The following link provides a guide to current pricing www.greenenergytrading.com.au/rec-prices.
Visit www.climatechange.gov.au/ for more information.
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