ADVERTORIAL
Australian Homeowners are Getting Solar Basically Free
Tom Midds | Contributing Author
Updated: 10:05 AM Wednesday, 2 February 2023
How Australian's Are Getting Paid to Go Solar
Australian power companies may not want you to know about this, but as a homeowner, you should.
There is a government policy that provides many homeowners with $1000s of dollars in funding to install solar panels; known as the PV Small Technology Certificate (STC) Subsidy.
Why doesn’t your power company want you to know? Because it reduces most peoples’ power bills by around 85% and without paying anything upfront (for those who qualify).
Some people are even in credit, meaning their power company actually sends them a payment credit each quarter.
The subsidy is part of the Federal Government’s Renewable Energy Target (RET) and is primarily designed for homeowners to install solar panels on their roofs.
Here is how much rebate is available for a 6.6kW solar system in various states:
- Adelaide, Brisbane, Canberra; Sydney: $3,500*
- Melbourne, Hobart: $3,225*
- Darwin: $4,387*
The financial benefit generated from STC’s is generally included in the advertised solar package costs and offered as a point of sale discount. Ultimately, this saves you the hassle of having to claim the subsidy yourself and substantially reduces the cost of the install.
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Another fact about rooftop solar that your power company might want to keep you in the dark about is the huge downward pressure on solar panel prices over the last few years.
Until recently, solar panels cost so much that it would take many years to pay them off.
But the cost of solar panels has lowered dramatically in recent years. In fact, according to a leading Australian solar price index, the cost has halved recently.
This dramatic drop in prices, coupled with generous government incentives, means some solar installers are able to offer programs that are immediately cash flow positive.
This is just a fancy way of saying that you can get solar installed and see savings right from day one.
This is in contrast to the past when you would often have to pay more for a number of years until the install was paid off.
These programs often require $0 upfront and use the savings on your future power bill to pay off the install.
The new power bill plus the solar repayments will be less than your current power bill so you will save from day 1.
The initial savings during the payback period (3-5 years) are generally quite modest. But after the payback period finishes, people normally save around 80% on their electricity costs.
And considering almost all panels come with a 25 to 30-year warranty, the return on investment is often touted as the best investment a homeowner can make.
But not all homes are eligible for these programs. To qualify, one must consider the following:
- What size solar rebate am I entitled to?
- Is my home suitable for solar?
- Do I currently spend enough on electricity?
How do I see if I Qualify?
With massive solar rebates now available, these online services are gaining massive popularity. One of the most trusted, secure and effective free online service is Aus Solar Connect. Over 150,000 homeowners have already trusted Aus Solar Connect to check their solar suitability.Step 1: Click your state on the map to instantly check your postcode for free
Step 2: Once you go through a few questions, you will have the opportunity to compare the best quotes in your area. Select your state below:* Assumes STC price of $37.50/STC
* http://www.cleanenergyregulator.gov.au/RET/How-to-participate-in-the-Renewable-Energy-Target/Financial-incentives