Significant government incentives are available for households to install Solar Energy Systems. They include:
- Small scale Technology Certificates (STCs) are available under the Renewable Energy Target (up to 100kW) – STC provide a subsidy to purchase the system.
For more information on STCs, see below
- Feed in Tariffs (FiTs) are available and relate to the sale of the electricity that you generate back to the grid. Feed in tariffs vary from state to state and also between energy retailers within each state, so it pays to shop around for the best deal.
For more information on Feed in Tariffs, see below
What is an STC The no of STCs awarded when purchasing you Solar Energy System is determined by the size of a system, the power that the system will generate over a 15 year period in MWh and where you live (see zone map below). e.g. a 2kW System Solar Energy System located in Newcastle will be awarded approximately 43 STCs. What is the current Value of STCs The value of STC’S depends on the current market value. (This price will fluctuate depending on supply and demand). The current market rate for STCs can be found at http://green-bank.com.au/trade-with-us/daily-prices/ What is Feed in Tariff (FIT) A Feed in Tariff (FIT) is the amount you’re paid per unit (kilowatt hour – kWh) for electricity your system produces that you sell to the grid. The amount paid per kWh and the time frame of the scheme varies per state. For more information on the FIT in your state contact us.