Solar Energy Rebates

The solar rebate STC system is an incentive program to encourage the use of solar energy in both residential and commercial properties in Australia, for systems under 100 kW. Here’s a breakdown of how it works:

• Point of sale discount: When you buy a solar energy system, the rebate is usually applied immediately as a discount at the point of sale, which lowers the price you pay upfront.

• Value calculation: The discount you get depends on two things: the size of your solar system (the total kilowatts of your panels) and the current market value of the STC when you make your purchase.

• Tradable commodity: STCs work like stocks in the stock market—they can be bought and sold, and their prices can go up or down quickly.

• Price stability: While the value of STCs can change, they have been pretty stable over the past few years. However, there have been times when the rebate value has changed a lot within a single year.

• Price lock-In: At Solar Integrity, once you put down a deposit, they guarantee the price of your system. This means even if the STC rebate value changes, your system price won’t—it’s locked in.

• Annual reduction: Each year on January 1st, the number of certificates you can receive goes down, and this will continue until 2030. So, the longer you wait to buy your solar system, the smaller the rebate you’ll receive.

• Geographical zones: Your rebate also varies depending on your location, which is determined by your postcode. Australia is divided into 5 different solar rebate zones, and each zone has a different rebate rate.

• Simplifying the complex: It might sound complicated, but during a consultation with Solar Integrity, they will explain everything clearly so you understand exactly how it will work for you.

• Small-scale Technology Certificates (STCs) are a financial encouragement aimed at fostering renewable energy uptake in Australia. This rebate diminishes the initial investment required for setting up eco-friendly hot water solutions like heat pump hot water systems. The amount you can receive is based on the hot water system that you are installing.

• Character of STCs: Each STC is an exchangeable voucher that reflects the quantity of electricity, in megawatt-hours (MWh), saved annually by your eco-friendly energy system, for instance, a CO2 Heat Pump Hot Water System.

• The STC rebate gives you a price reduction on your eco-friendly hot water system purchase. In essence, they serve as a kind of discount, though the government doesn’t actually dispense this money directly. Rather, companies in the fossil fuel sector are obliged to purchase these vouchers, affording you a markdown on the cost. So in summary – STCs are offered as a point of sale discount.

• Qualification and redemption process: Your solar hot water or heat pump hot water installation needs to satisfy specific standards to qualify for STC discounts. Fortunately, the redemption process for these discounts is usually managed by Solar Integrity, so as the buyer, you typically aren’t required to handle the redemption yourself. If we are selling you a hot water system as supply only, you will need to claim the rebate yourself. Solar Integrity can offer some guidance.

• Note that the precise savings and the count of STCs you can accumulate depend on your system’s type, its energy-saving performance, and your home’s location. A discussion with our energy consultant can provide a more detailed insight into the specific advantages STCs can offer for your hot water system.

The Victorian Government’s Solar Homes Program continues to offer significant incentives to homeowners, landlords, and tenants looking to install solar systems. Here’s a detailed update:

• Rebate values: The solar panel (PV) and solar for rental properties rebates stand at $1,400, while the rebate for efficient hot water replacements is $1,000​​.

• Interest-free loans: Solar Power – In addition to the rebate, you may be eligible for an interest-free loan matching the rebate amount, repayable over four years. This offer’s availability for tenants and landlords and can be confirmed with Solar Victoria. Battery – There is an interest free loan up to $8800 available to householders only.

• Scheduled reductions: Rebates may periodically adjust. The number of solar panel rebates available are released on the second Wednesday of each month. If the number has been reached sometimes customers have to wait for a top up to spots to apply.

• Eligibility criteria: To qualify, you must be an owner-occupier (unless applying for the landlord tenant rebate) with a combined taxable income under $210,000, property valued under $3 million, and not have a solar PV system installed after 2013. These criteria may vary slightly between the different rebates.

• Approval process: You need pre-approval for the rebates and the loans before the installation can commence.

• Locking in prices: At Solar Integrity, when you pay a deposit, your system’s price is fixed, safeguarding you against any rebate fluctuations.

For the most accurate and up-to-date information, visiting the Solar Victoria website or consulting with a service provider like Solar Integrity is recommended. We will assist with the application process and clarify any questions about the program.

The Victorian Government’s solar battery loan initiative offers currently substantial financial support to homeowners looking to embrace renewable energy by installing solar batteries. Here are further details to enhance your understanding:

• Generous loan offering: With 4,500 loans available, each providing up to $8,800, the scheme is designed to make solar battery installation more affordable for a significant number of households​.

• Detailed eligibility: The opportunity is open to those who:
  • Are owner-occupiers of a residential property.
  • Have a property valuation of less than $3 million.
  • Earn a combined household taxable income of under $210,000.
  • Haven’t benefited from a solar battery rebate at the same address in the past.
  • Either currently have a solar system with at least a 5kW inverter or will install one alongside the battery.
  • Select a battery that meets or exceeds a 6kWh capacity and is approved by Solar Victoria.
  • Obtain the necessary pre-approval from their energy distributor for a safe connection to the power grid.
  • Agree to potentially participate in battery performance trials and to undergo a safety inspection or audit if chosen​​.

• Upfront cost reduction: This loan is specifically structured to minimize the initial financial impact of integrating a solar battery into your home, promoting a smoother transition to sustainable energy sources​​.

Stay informed by regularly checking Solar Victoria’s website, as the program details can change. They provide the most current information on eligibility, application processes, and deadlines, ensuring you have the most accurate guidance for taking advantage of this opportunity.

In Victoria, a rebate of up to $1,000 is currently available for the installation of eligible hot water systems, such as heat pumps or solar hot water systems, which can help reduce home energy use—a significant concern given that hot water systems account for around 21% of a household’s total energy consumption.

Solar Victoria have recognised the importance of quality and environmentally sound products; therefore they have introduced minimum standards to the eligible systems in their program.

By upgrading to an efficient system, you could see savings of $140 to $400 each year on your energy bills​​​​.

The criteria area:

• The property must not have benefited from a hot water or solar battery rebate previously under the Solar Homes Program.
• You need to be living in and own the property where the new system is installed.
• Your property must be assessed at under $3 million in value.
• All owners combined must earn less than $210,000 annually as per taxable income.
• The hot water system being replaced should have been in use for no less than three years from its purchase date​​.
• This is a one-time rebate per property, designed to encourage the adoption of renewable energy sources in Victoria.

For complete guidelines and the latest information, checking with Solar Victoria is advisable.