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Australian solar credits program

Newsflash : Energy Matters offers higher REC values; allowing us to give you an even more generous Solar Credits rebate!

You can get a huge discount on a solar energy and wind power systems thanks to the Australian government's solar panel credits program subsidy!

Solar credits in Australia - Q&A

The new solar credits program applies to off grid and grid connect wind and solar power installations only - solar hot water rebates rebates operate under completely different schemes.

If you didn't qualify for the $8,000 SHCP rebate scheme or missed the deadline for SHCP or RRPGP; you will most likely qualify for the Solar Credits Program! Check out our new Solar Credits Maximiser deals or try our new instant online quoting tool.

Solar Credits Scheme FAQ

The following are some commonly asked questions and answers regarding the new solar credit program.

What is the status of the Solar Credits scheme?

The Solar Credits scheme is part of the Renewable Energy Target bill, legislation that was passed on August 20, 2009. This means that if you were to install a system now, you are able to receive the rebate!

Is the new Solar Credits program better than the old SHCP rebate?

In relation to grid connected systems and in financial terms, for families with annual incomes over $100k and for businesses, it certainly is as the solar credits scheme will not be means tested. Under the SHCP rebate program, these people and businesses were not eligible.

Beat the rush and take advantage of our special grid connect solar package deals! Contact us today toll free on 1300 727 151, email our friendly team for expert, obligation-free advice or try our new instant online quoting tool

Who is the solar panel credits program open to?

Home owners, small businesses and community groups are all eligible for the Australian solar credits program! No-one is means tested under the new solar scheme. The scheme also covers off grid installations.

Schools are also eligible for the Solar Credits scheme and participation in the program will not affect a school's eligibility for the next round of $50,000 National Solar Schools Program (NSSP) grants!

Does it cover remote power systems?

Yes, the solar credits program covers grid connect and off grid solar power systems. Further details about Solar Credits and off-grid solar power systems can be viewed here.

How big/small a system must I buy to achieve the maximum rebate?

Grid connect systems

A grid connected solar power system with 1.5 kilowatts solar panel capacity installed in Zone 1 (explained below) will get you the full $7200 in solar credits through Energy Matters. You can of course install a larger system, but the extra credits will only apply to the first 1.5 kilowatts in the case of grid connect systems. Any additional credits that would normally accompany a system above 1.5 kW will still apply.

Off grid solar

In the case of off grid solar power systems, from July 1, 2010, under the enhanced Renewable Energy Target, the Solar Credits multiplier will apply to the first 20kW of a system installed. This translates to savings of tens of thousands of dollars for maximum sized systems! There is a cap of the number of systems that can be installed each year under the scheme, so you'll need to get in quick.

REC values and "zoning" - how does it affect the rebate?

The Solar Credits rebates levels are based on two elements - zoning and REC values.

Australia is divided up into various zones based on how much renewable energy can be generated by a solar panel in a given area. You can determine your zone using this table (PDF).

Renewable Energy Certificates (RECs) accompany qualifying solar power equipment. These certificates can be traded in for cash or as a point of sale discount with companies such as Energy Matters. Their values are controlled by market forces; meaning they can fluctuate up and down continuously.

REC values plummeted recently, but Energy Matters is continuing to offer higher values. This means we can offer a more generous rebate value than our competitors.

However, this won't last forever and we don't want you to miss out on the huge savings to be had by moving forward on the process right now!

As an example, under the solar credits scheme if you buy a 1.5kW system in Victoria (Zone 4), you'll receive:

26 x 5 = 130 Renewable Energy Certificates (RECs).
130 RECs x $35*/REC = $4550 rebate

A breakdown on different zones (1.5kW systems):

Zone 3 new subsidy = $5,425 (@ $40*/REC)
Zone 2 new subsidy = $5,950 (@ $40*/REC)
Zone 1 new subsidy = $6,300 (@ $40*/REC)

*Please note: The $35 per REC is the level Energy Matters is able to offer at present. As the market for RECs is currently performing poorly, many of our competitors are now offering far less per REC.

Also note a GST paying customer (any business or tax paying entity that is not a final consumer) will need to provide us with a tax invoice for the value of the RECs plus GST prior to the installation taking place. This will allow us to subtract the value of the RECs from the point of sale amount of the system.

If you're interested in installing solar power at your home, take advantage of our currently higher REC values - view our current specials and contact our team as soon as possible on 1300 727 151.

Have you tried our solar power instant online quoting system yet? By entering a few details, you can design your dream grid connect solar power system and have a full estimate emailed to you automatically!

Can I install the panels myself to get the full solar credits value?

No. The Office of the Renewable Energy Regulator have made it a requirement that only BCSE accredited installers can sign-off on Solar Credits.

Does the solar credit program also apply to wind power?

Yes it does - the same guidelines will apply for wind turbine installations - even for micro-hydro systems!

What about caravans, boats, sheds, motorhomes and RV's?

As long as the caravan, boat, shed or RV has an address and is your principle place of residence and has an address (such as a caravan park site or marina berth), it will be eligible under the solar credits scheme.

How does the solar panel credits scheme work?

A Renewable Energy Certificate (REC) credit multiplier system will be the basis of the solar credits program.

A single REC is equivalent to one megawatt hour of electricity generation. Renewable Energy Certificates are currently issued with qualifying solar hot water, solar energy, wind power systems or solar panels and can be traded for cash. The value of a REC is dependent on market conditions.

Under the new solar credits system, one REC will be initially multiplied by 5, therefore offering five times the dollar value. The 5x multiplier will be in place between the start of the program to the end of the financial year in 2012. After that, the credit multiplier rate will gradually drop according to the following timelines:

2012-13 - 4x
2013-14 - 3x
2014-15 - 2x
2015-16 onwards, no multiplier

How do I cash the REC credits?

Relax :) While the program may seem a little confusing, Energy Matters is here to make things super-easy for you!

While you can claim the cash value of the RECs yourself, that means you'll need to pay the full price of the solar power system up front and then have the paperwork hassles, followed by the wait.

However, we can offer you a point of sale discount if you assign the credits to Energy Matters as we're a registered REC agent! We then take care of the rest, saving you a substantial amount in financial outlay and the bother of red tape. Additionally, we offer higher REC values than most, if not all, our competitors!

Learn more about the solar credits REC system - Try our new instant online quoting tool, contact us today toll free on 1300 727 151 or email our friendly team for expert, obligation-free advice.

Will I be able to "double dip"?

The Renewable Energy Certificates multiplier will only be allowed ONCE per installation and will not be able to be claimed in the event that that address has received other prior grants, including additional renewable energy certificates under the Solar Credits program.

For example, if you received the $8k rebate on a 1kW installation, you won't get the multiplier RECs on the upgrade to 1.5kW under the Solar Credits program; but you will still receive the standard number of Renewable Energy Certificates.

Need more info or ready to order a system?

Our new specials are sure to be popular, so get in quick!

To ensure you can have your system installed sooner rather than later, here's what you need to do:

Check out the Solar Credits Maximiser special or try our new instant online quoting tool
Call our friendly team on 1300 727 151 as soon as possible to beat the rush with any questions you might have or to arrange a no-obligation site inspection.