This page briefly describes some of the support available to help finance or accelerate payback time of a commercial solar power system.
Energy Matters can assist your organisation in accessing a variety of incentives and financing. For further information on any of the below, contact our friendly commercial experts via our online form or by calling 133 SUN.
Solar PPA’s & Leasing – Zero Capital Outlay
Energy Matters offers solar energy solutions under an operating lease or Power Purchase Agreement (PPA); requiring zero capital outlay. Your organisation can save on energy costs from day one. Learn more about solar PPA’s and leases; or contact us on 133 SUN for further details.
RECs, STC’s And LTC’s
Renewable Energy Certificates (RECs) are a tradeable commodity attached to eligible installations of solar power systems. It’s an umbrella term referring to Small-scale Technology Certificates (STCs) and Large-scale Generation Certificates (LGCs).
In a commercial scale array, their value can be many thousands of dollars. Energy Matters provides a point of sale discount if you elect to sign over the RECs to us. This saves you valuable time and hassle in attempting to trade the certificates yourself.
On Budget Night, May 12, 2015, Treasurer Joe Hockey announced businesses with an annual turnover of under $2 million are able to claim immediate tax deductions on sub-$20,000 purchases up until June 30, 2017, rather than having to claim those purchases as deductions spread over several years. Those interested in using this option to acquire a solar power system should first consult their accountant.
Feed In Tariffs
While the goal of a commercial solar power system these days is to supply for self consumption, there will be times when production may be surplus to requirements – such as on weekends and public holidays. Feed in tariffs pay system owners for surplus electricity exported to the mains grid.
NAB Low Interest Loans
The Clean Energy Finance Corporation (CEFC) is providing $120 million through the National Australia Bank (NAB) for discounted interest loans for energy efficiency and solar energy equipment. The agreement will allow NAB to offer a rate 70 basis points below its standard equipment finance rate.
Environmental Upgrade Funding (NSW & Victoria)
Environmental Upgrade Funding is a method of financing that provides funding from $250,000 to $10 million and beyond for the sustainable retrofitting of commercial buildings. The interest rate is competitive compared with traditional financing.
Energy Efficiency Loan
The Commonwealth Bank has partnered with the Clean Energy Finance Corporation (CEFC) to offer the Energy Efficient Loan. This financing option offers competitive rates and as long as a project meets the energy efficiency criteria set by the Australian Government’s CEFC, the Commonwealth Bank can finance up to 100% of the purchase price. Commercial-scale solar power systems can be eligible under the program. Learn more here (PDF).
The world of commercial solar rebates, low interest loans, grants and other financial assistance can be a confusing one that constantly shifts and changes. The best first step is to contact us for a no-obligation discussion of how solar can improve your bottom line and to learn more about the incentives and/or financing options that may be available to you. To arrange a discussion, use our online form or call 133 SUN.
Local Government Finance Program
The Clean Energy Finance Corporation Local Government Finance Program provides flexible and competitive fixed-rate, long-term finance designed around the needs of councils.