What you need to know about the latest changes to solar rebates

Posted on 20 June 2018

​In the coming year, important changes will be implemented that will affect the current solar rebate rules.

Currently, the solar rebates exist to add an extra incentive for homeowners wishing to install a solar power system.

This helps to ease the reliance on fossil fuels, making solar power a more affordable option for the general public.

Latest announcements

However, a new announcement marks the beginning of a phasing out for solar rebates, beginning next year and aiming for a complete cessation of rebates by 2031.

The current rebate available for a 5kw system is approximately $4000, but this price will be reduced by approximately $500 next year. On 1st January 2018, useful life of systems will also be reduced to 13 years.

One of the immediate tangible effects that will come from this announcement will likely be changes to the small-scale technology certificates offered to homes and businesses by energy retailers.

It’s likely that the discount previously offered will begin to reduce in accordance with the lowering rebate available. However, this doesn’t mean solar power is becoming unaffordable.

Solar is still a great option

Solar power is still a great option for homes across the world, with solar prices increasingly competitive, as the price of electricity continues to rise.

Not only is there still a rebate available, but the standard price of solar power is likely to reduce as the growing industry sees more investment from businesses around the world.

That’s before we even acknowledge the environmental benefits that come with choosing solar power.

STCs & Environmental Sustainability

There really is no time quite like the present to invest in an environmentally sustainable solution for your home or business.

Not only are STCs still available if you buy solar power before rebates are wiped out completely, but choosing solar power is a great way to actually make money back on the energy you use every day.

Investing in solar power for your household or office doesn’t have to burn a hole in your wallet.

Getting the most value for your investment

There are plenty of ways to switch to a cleaner source of energy that won’t mean purchasing an expensive system.

For example, adding battery storage to your system can double or triple its cost, but you can still have an effective solar power system without including this storage.

Without this storage included, the payback on your system will likely be around just 2-3 years! By being savvy and choosing a solar power system that’s the right size for your home, you’ll be able to save an unprecedented amount on your energy bill.

In summary

While the changes to rebates could be seen as disheartening, it’s indicative of a world where a reliance on solar power is becoming increasingly normalised.

Here at Solar Power Direct, we understand how bright the future of solar power truly is, and we’re excited to help bring our imaginative solar power solutions to more and more people.

For more information about the changes to solar rebates, or to find out more about how you can make the switch to solar power today, why not contact us? A member of our friendly team will be thrilled to talk to you.