How much rebate can I get for my electric solar power system?
Solar Credits are provided in the form of STCs, for people who have installed a new and eligible solar PV system (or other small generation unit). The STCs apply to solar systems connected to a main electricity grid and up to the first 20 kW of capacity for off-grid (stand alone) solar power systems.
The Clean Energy Regulator has established a voluntary 'Clearing House' as a central point for the transfer of STCs at $40. However, there is no guarantee around the timing of sale through the Clearing House, so system suppliers often choose to manage the risk of delays in finding a buyer in the Clearing House by selling the STCs on the market outside the clearing house, generally at a lower price which depends on supply and demand in the market.
The level of support provided by Solar Credits depends on the location and size of the system and the price of STCs. Households considering installing solar PV systems are encouraged to shop around for the best deal on their quality solar PV system. Cheaper solar systems rely on cheaper inverters and panels, and as you would like your solar panels to still produce power in 20 or 25 years, a quality system is likely to give you solid financial returns.
The solar rebates change regularly as the value of the STCs/solar credits fluctuates similar to shares. You should talk to your nearest LG installer to get the updated information or visit the Clean Energy Council website to find consumer related solar information about rebates and many other subject matter.
