Solar Government Rebates Up To $3,458 Are Available!
The Australian Federal Government provides substantial rebates when you choose to install a solar PV system at your property. The rebate amount is based on the size of the system purchased and is deducted from the upfront cost of the solar system by your chosen solar provider.
In 2024 you can expect up to a $3,458 reduction for a 6.6kW system, a common size for Australian homes.
How much is the solar rebate worth today?
How does the solar rebate work?
- Under the Australian Government’s Small-Scale Renewable Energy Scheme (SRES), homeowners are entitled to a given number of STCs dependent on the system size, where the system is installed and which year the system is installed.
- The scheme can be claimed on multiple properties. The rebate is claimed by the installer of your system and passed on as a point of sale discount.
- STCs are a traded like shares and their worth fluctuates depending on the amount of installations occurring that year. More installs than expected and the worth depreciates. STCs are currently valued at around $36 but have been as low as $17, so now is definitely a good time to install.
How is the value of the solar rebate calculated?
- The amount of STC’s you receive are affected by two main variables - Location & System Size.
- Location - The Federal Government splits all of Australia’s postcodes into 4 categories: Zone 1, Zone 2, Zone 3 and Zone 4. If you reside in Zone 1, you’ll receive a greater rebate than someone that lives in Zone 2, who will receive a bigger rebate than someone in Zone 3 and so on. Zones are determined by the number of sunlight hours you receive in the location you are having your Solar PV System installed.
- System Size - The other variable in determining the value of your rebate and amount of STC’s received, is the Solar PV System’s size. The larger the Solar PV System, the more power it will generate and the more STC’s and rebate amount you will be entitled to.
Will the solar rebate drop?
- The number of STCs you’ll receive drops each year. The STC worth can rise and fall depending on demand in the market also.
- The STC value is currently very high but at risk of dropping depending on market demand and Government policies. Now is the time to go solar!
Getting solar on your roof is a relatively straightforward process so don’t miss out on the benefits.
At Solar Market, we help you through the process by organising quotes from 3 Clean Energy Council accredited installers who service your area.
