Due to the overhaul of the solar panel rebate from 1/1/2011, the value of the government solar panel rebate will be reduced as much as $900 for the installations after 30th of June 2011. The new certificates or solar credits called STCs (Small-scale Technology Certificates) replace RECs (Renewable Energy Certificates).
Solar Credits are not means tested.
Solar Credits apply to the first 1.5 kilowatts (kW) of capacity installed in an eligible premises (see below)
Generation from capacity above 1.5 kW, either on the original unit or on any additional capacity installed at a later date, will still be eligible for the standard 1:1 rate of REC creation.
Installation Period Multiplier
9 June 2009 - 30 June 2010, 5 x [number of eligible STCs]
1 July 2010 - 30 June 2011, 5 x [number of eligible STCs]
1 July 2011 - 30 June 2012, 4 x [number of eligible STCs]
1 July 2012 - 30 June 2013, 3 x [number of eligible STCs]
1 July 2013 - 30 June 2014, 2 x [number of eligible STCs]
1 July 2014 - onwards, 1 x [number of eligible STCs] (ie no multiplier)
From the above table, you can see the Installation Period Multiplier decreases over the time. It means the rebate is reduced gradually over the period.
See more details at
http://www.orer.gov.au/sgu/solarcredits.html.RECs/STCs are used to help reduce upfront costs. Another benefit of solar power is what you could receive Feed-in Tariffs – used to calculate your potential earnings from electricity you feed into the grid. The current Victorian government scheme sets a rate of 60 cents for every kWh of solar power fed into the electricity grid.
What it means for your rebate
A feed-in tariff, and how you are paid for the electricity you generate, differs depending on:
1. the state in which your property is located.
2. which energy retailer you’re with, for example, AGL offers an additional 8 cents per kWh.
Depending on your property’s location, you will either be paid by a gross metering system, or a net metering system:
Gross metering – is where all the solar electricity your system generates is fed into the grid, and you’re paid a feed-in tariff for every kWh of solar electricity you generate.
Net metering – is where the difference between the solar electricity generated and what you’ve used (the excess solar electricity) is fed into the grid, and you’re paid a feed-in tariff for every excess kWh generated and fed into the grid.
