Solar Rebate 2019 - Is Solar Still Worth It?
Updated: Apr 24, 2019
If you consider going solar, you have probably come across the solar rebate. Government solar rebates were created in order to establish affordable solar products for Australians. The system worked out really well and the Australian solar industry has grown rapidly.
What is the solar rebate?
The STC rebate is an incentive by the Australian government as part of its Small-scale Renewable Energy Scheme (SRES) to encourage households to install solar systems. STC stands for Small-scale Technology Certificate, which can be claimed when an eligible solar power system is installed, to receive a rebate.
Who can claim the solar rebate?
Anyone can claim the rebate, even if you already have solar on your roof and want to buy a new system. The only requirements you need to fulfil are the following:
Your system must be smaller than 100kW
You need to get it installed and designed by a Clean Energy Council (CEC) member
Your panels and inverters are approved for use in Australia by the Clean Energy Council
Is the solar rebate ending soon?
The government rebate is in the process of being phased out. With current legislation, the solar rebate started to reduce by one fifteenth every year from January 2017 until it drops to zero in 2031. The system is self-regulating. This means that if the demand for solar systems in Australia quickly increases, the STC-price will reduce. This price can be valued anywhere between $0 and $36. With a high STC-price you will get a high rebate. Currently (January 2019) the rebate is valued at $34 per STC. This is why we at Econnect Solar quote your STCs at this price so that if they drop below $34, your discount will not be decreased.
So is solar still worth it in 2019?
Absolutely. In 2019, solar power systems remain affordable and attractive, especially in light of the continuously rising electricity prices.
Many people think that solar isn’t worth it anymore because of low feed-in tariffs. About ten years ago, the feed-in tariff rate paid was extremely high with up to 66c/kWh. Since then the price for solar systems has dropped significantly and the feed-in tariffs are now as low as 7c – 18c.
This is why many people assume that they shouldn’t go solar. But this is way too short-sided. A lower feed-in tariff only gives you the incentive to use more of your solar energy for yourself than feeding it back into the grid.
If you are considering to go solar, there is no better time than now. Even though the cost of solar will probably continue to decline, it makes no sense to wait because the savings you will make by having solar now will greatly outweigh any saving you would make by waiting. This is especially true now that the solar rebate is being phased out.
So now you are probably asking yourself: how much will a quality solar system cost me including the rebate?