There is a range of funding and investment programs aimed at supporting renewable energy sources like solar. Factoring these cost reductions in can be challenging unless you’re across the spectrum of energy subsidies available at any one point in time, but worth the benefit in terms of money saved on your new system.
This is why so many businesses and individuals choose to partner with Choice Energy for high quality solar: We make the system seamless, including the process of identifying and applying for relevant grants and incentives.
An overview on current Government Targets and Schemes
Australia’s Renewable Energy Target (RET) is a government policy aiming to see at least 33,0000 gigawatts of energy from renewable energy by 2020. The RET scheme ultimately encourages the additional generation of electricity from renewable sources to reduce greenhouse gas emissions in the electricity sector, and consists of two parts: Large Scale Renewable Energy Target (LRET) and the Small-scale Renewable Energy Scheme (SRES)
What opportunity does this create for my business?
Under these systems, households and businesses with solar power systems up to 100kW receive Small-scale Technology Certificates (STCs), while systems over 100kw qualify for Large Scale Generation Certificates (LSGC) for every megawatt hour of renewable energy generated or displaced by an accredited solar panel. Put simply, these certificates work a little like shares, where they can be traded at a rate which fluctuates.
Our membership with the Clean Energy Council enables us to access federal funding for eligible customers as part of the Renewable Energy Target. This includes access to Renewable Energy Certificates including Small-scale technology certificates (STCs) and Large-scale generation certificates (LGCs). Gaining certification can generate annuity revenue or direct credits for your business depending on the size of your system generating electricity.
If this sounds a little confusing or overwhelming, fear not: what many businesses and individuals choose to do is claim their certificates for an immediate discount on their PV system through Choice Energy, which is often referred to as a rebate.
General Frequently Asked Questions About Solar Rebates and Grants
Thanks to Australian and State Government rebates and grants, solar systems for businesses and residences have become more affordable. But what does it actually mean when it comes to investing in a system for yourself? We’ve created a simple FAQ to answer your essential questions.
What is a Government rebate?
A rebate is a reduction, return or refund of a sum of money that has already been paid. In the context of solar energy, Government rebates refer to an amount or percentage of your costs when it comes to the installation of a solar system on your commercial or residential property.
What is the difference between a government solar rebate and a government solar grant?
A grant is an amount of money awarded to a person or group to do a certain action. So the difference between a government solar grant and a government solar rebate is simply when and how the financial assistance for your system is given.
You’ll see many solar and clean energy initiatives given titles like these, as well as terms like scheme and package: Generally speaking, they are all referring to the act of assisting you financially in acquiring a solar system for your property, and vary in amount and timeline of funding.
Why do I need to know about grants or rebates?
Accessing a rebate for your solar system means paying less for it. This means you’ll pay your system off quicker, and enjoy the benefits of cost-free solar for longer.
Do I need to utilise a government grant or rebate in order to get solar?
Not at all - You can finance or pay for your system without a rebate. We do recommend you utilise a grant or rebate if you are eligible, however: After all, your return on investment will be higher if you paid less for your system in the first place.
How do I know what rebates or grants I am eligible for?
You can find further rebates and grant opportunities across many government websites, including energy.gov.au/rebates, which can be time consuming, especially when it comes to establishing eligibility. When you partner with us for your high quality residential and commercial solar needs, we do the heavy lifting for you when it comes to both finding and applying for relevant grants, incentives and rebates.
How much money does a solar rebate save me?
Each rebate and grant is different, and may depend on a range of factors. For commercial solar, incentives and rebates are usually higher, as your need for energy and a larger solar system are also higher. Individual state governments will also vary their offers depending on their focus and capacity for renewable energy. We recommend you reach out to us for a solar feasibility assessment, where we can give you a more accurate picture of what you can expect to save.