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Solar Rebate

Installing solar panels for your business can make your annual budgets go ‘out of the roof’. Not literally but they do make a deep impact on your pockets. It may seem so initially – but thankfully, there are some ways to keep the budgets in control.

There are several ways to redeem your installation cost. It can range from getting renewable energy certificates to receiving a sustainable home upgrade rebate. Some of the key benefits are described below. More rebates and individual details can be viewed at the energy.gov.au website.

Federal Government Rebates (REC, STC and LTC)

The Federal Government issues certificates to businesses under the Renewable Energy Certificate (REC) for SST – Small Scale Technology Certificate (< 100kW), and, LST - Large Scale Technology Certificate (> 100kW) power categories.

Depending on the size of your business installation, these REC’s can be used as tradable commodities and their values can run to thousands of dollars. Our partners and suppliers also provide an option for a discount on the equipment if you choose to redeem these RECs. The Federal Government has however planned to phase these out and the RECs may become non-functional by 2030. So act now to get the maximum benefit out of this opportunity.

Feel free to browse details of the rebates on Federal Government’s web page

Feed – in tariff

Your solar installation will generate power that your business operations can use to the full extent. However, there will be times when the generated power is more than the required load. This excess power can be fed back into the grid. Most residential installations go for this option and commercial solar power systems can also choose to sell it back and can do this at a negotiable rate.

The excess power is exported into the grid. The net feed tariff rate for each state is different and some have a regulated minimum rate while others have negotiated deals with the electricity retailers. Check the rebates in your area to make the most of the benefits available.

Federal Economic Stimulus Package

To face the challenge posed by the CoronaVirus, the Federal government in Australia has offered a significant economic stimulus package. It runs to several billion dollars and can be availed in the form of accelerated depreciation deductions in the first year of purchase and an immediate increase in asset write off threshold from $30,000 to $150,000 resulting in a saving of up to $45,000 in the form of tax credit. Both these packages are available for businesses with a turnover of less than $500 million.

Appliance purchase loan assistance

No Interest Loan Scheme (NILS) offers low income homes to avail safe, fair and affordable loans to install renewable energy systems such as solar PV panels and water heating systems. They also offer loans to purchase other energy efficient household appliances that run on renewable electricity generated locally.
The benefits include:

Competitive rates
Long term finance
Transfer of finance if house is sold or changes ownership
No additional security required

Bank Loans at competitive rates

Under the partnership between Clean Energy Finance Corporation and a few leading financial institutions, finance is available for covering the cost of the equipment. Some of the institutes that participate in these schemes give loans at competitive rates for investing in clean energy such as solar power and battery storage.

Solar rebates for small businesses

The Victorian government is offering small businesses an upfront discount to cover their initial costs for installing an approved Solar PV system of up to 30KW. Businesses and offices wishing to avail this can leverage the financial aid available as per the government rules.

Solar and heat pump water system rebate

This allows Victorian households to claim up to $1000 to assist with the installation of a solar and heat pump hot water system. Home owners can also apply for this on behalf of their tenants.

Renewable power incentives

Households and small businesses that install a small-scale renewable energy system (Solar, Wind or Hydro) are allowed to apply for a benefit under the Small Scale Renewable Energy Scheme (SRES). This can help reduce the installation cost significantly.

Home and business energy incentives

South Australia (SA) homes and small businesses can benefit from the Retailer Energy Productivity Schemes (REPS). The low income households are also an area of focus and the end objective is to support the state’s transition into a modern, flexible energy system.

Other rebates and incentives can be determined from the government website www.energy.gov.au

It is recommended that we connect with you during the initial phase or appointment and understand the requirements better so that the best possible rebates, financial assistance and loans can be leveraged to make your installation profitable in the shortest possible time.

Our commercial Team can Offer more

Our team has installed solar systems for government, large business and SME sites across Australia.

If you would like to find out more about our commercial solar offering, we invite you to please contact us to arrange a free no obligation consultation.