Residential solar incentives and rebates are still applicable. Small Scale Technology Certificates (STCs) are available to residential solar customers, bringing the cost of your solar system down by up to 50%. Feed in Tariffs are still in operation, paying 7.4c towards every kWh fed back into the grid.
Your Solar Energy System is paid for using a combination of your own money and money generated from STC’s that come with your solar system. An STC is the equivalent of a one-megawatt hour of electricity generation from an accredited renewable energy source (your solar system). An STC is similar to a share certificate as it represents a unit of value and may be traded for financial return. STCs are traded on the stock market like any commodity and their unit value varies from day to day.
Government incentives allow 14 years’ worth of STCs to be credited and used up front to part pay for your solar system. In effect, you cash in the equivalent of 14 years renewable energy output for a discount on your solar system. This incentive is reducing by 1 year for the next 14 years until extinguished so it is important to do it all today to maximise the benefit of this incentive.
Quite simply, you assign your STCs to Termico Solar Generation in exchange for a discount on your solar system. This discount can be as much as 50% off the cost. Find out your pay back period and call us to find out how much you can save.
You receive a rebate with a feed-in-tariff which pays you for the electricity generated by your solar system. Energy generated and not used (during the day while at work or during low consumption times) is fed back into the national grid, earning you energy credits. The credits earned under the feed-in-tariff are either credited to your electricity account or paid to you in the form of a cheque. This occurs quarterly or annually depending on your electricity retailer.
The current feed-in-tariff paid by Synergy for every kWh fed back to the grid is 7.4094c so it pays to mitigate your power costs, first by maximising your power cost reduction. In simple terms, it is best to use as much of your generated solar energy during the day rather than feed it back into the grid
Contact us for a free no obligation quote, and find out how much you can save by going solar