We are almost coming to the end of the year and so is the current level of solar subsidies for Australians who postponed purchasing a solar power system.
Eligible solar PV systems in Australia come with small-scale technology certificates (STCs—previously referred to as RECs), which carry high monetary value.
Qualifying systems must meet the relevant Australian standards be ordered from or installed by an installer or designer duly accredited by the Clean Energy Council- if you want to read more about STC’s and your eligibility, check out Australian Solar Quotes info page on solar finance.
When these STCs are allocated to the solar provider, a point of sale rebate is issued which significantly reduces the upfront cost and helps the consumer to avoid hassles that come about when dealing with the certificates.
Savings made from the subsidy can eventually accumulate into thousands of dollars; and without it Australians would not have installed the 1.6 million solar power systems that fast.
Several factors determine the number of STCs that accompany a system. These include the amount of power to be generated over the “deeming period”, which currently stands at 15 years.
However, by January 1, 2017, the deeming period will reduce to 14 years and in turn decrease the subsidy level. The deeming period will continue reducing in subsequent years.
The most challenging scenario is that the installer or provider must claim the STCs; or the consumer if they decide not to go for the point-of-sale rebate after installing the system. This may compel some solar providers to start considering the reduction sooner; if not now since installations may take place after December 31.
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To help more Australians take advantage of existing subsidy levels, the Australian Solar Quotes is assisting customers to save thousands of dollars by finding the right solar company to lock in the existing subsidy rate for customers ready to order a solar power system.
To buy a solar PV system or get an obligation-free advice, experts at Australian Solar Quotes can be contacted at 1300 303 864.