Explaining Government Rebates..
Merged together, the state and Federal Government provide solar power rebates. They come in 2 forms of assistance when installing a solar power system
- A reduction in the price of the system you purchase
- A payment for the additional power you do not use on a monthly basis.
Over setting all this though is the biggest benefit you’ll encounter, which is where you’ll be able to off set your daytime electricity usage.
Assistance in purchasing the system
When you purchase and install a solar power system, you’re also entitled to create and claim STC’s (Small Energy Certificates) These were also known formally as REC’s (Renewable Energy Certificates). You will receive 1 STC for every MW (Megawatt) of energy your solar system is expected to produce over the next fifteen years.
A system that generates 1.5KW (Approximately 6-8 panels) will also produce around 31 Mega Watts worth of power over a 15 year time-frame – which means you are entitled to about 31 STC’s. A 3 Kilowatt system would entitle you to 62 x STC’s etc etc.
It’s a common practise to also assign the rights to create the STC’s to the system owners in exchange for an energy discount on the purchase of the original solar system. Generally you are invoiced for the initial out of pocket expenses, as well as the assignment of STC’s created in relation to the solar system
Selling your unused power – paid by your energy retailer.
You should bear in mind that the biggest benefit your solar system will provide you with, is offsetting your daytime energy usage. For every unit of electricity/energy you produce and consume, it means you do not have to purchase that unit from your electricity supplier – essentially free electricity!
Your electricity provider will also purchase any additional electricity generated by your solar energy system that you do not utilize yourself. This ma also include a contribution from your state Government
System in place for Western Australia
|Reduction in units needed to be purchased from the grid||The number of units produced by your solar system that are consumed on your property (and hence this reduces that number of units to be purchased from your retailer)||24c (Synery A1 Tariff)
Up to 45.9c (Synergy Smart Power Tariff)
|Payment for units exported to the grid||The Renewable Energy Buyback Scheme pays you for any units of electricity your solar system produces that you do not use on your property.||8.4c|