There are a number of incentives in play today. And they vary by state and by type of system (residential or commercial) and by system size.
All systems below 100KW (about 300 panels) attract a Federal Government incentive scheme, called Small Technology Certificates (commonly referred to as STC’s). This incentive, equating to roughly around 30% of the cost and increasing as a % the further North you live in Australia, is paid up-front and comes off the price before you buy. It is calculated based on solar production and this is why as a % it increases up North – there is more sun and your solar system produces more clean energy and so you are rewarded with more STC’s!
All systems over 100KW attract a different Federal Government incentive scheme, called Large Generation Certificates (commonly referred to as LGC’s). This incentive, on todays price, equates to roughly around 30% of the cost and it too increases the further North you are. However this one is not paid up-front, but rather in annual instalments until 2030, as a reward for clean power your system produces.
In Victoria, for residential systems, there is another incentive scheme that has been recently introduced by the Andrew’s Government. It is called the Home Solar Scheme and it has 2 parts. A Home Solar rebate of $1,888 and an interest-free 4 year loan from the government for another $1,888.
To qualify, your household income needs to be less than $180K and your home must be worth less than $3M.
Most of our customers only need to invest between $0 – $1300 in total of their own money to have solar installed.
