NSW Solar Bonus Scheme Applauded

 

 
UPDATE: Revised NSW Solar Bonus Scheme legislation has been passed. Details.
  
There has been positive reaction to the recent announcement from the New South Wales Government that the State's new Solar Bonus Scheme will pay 60 cents per kilowatt hour to owners of home solar power systems for all electricity generated.

When passed by Parliament, which is expected to happen within the next week, New South Wales' gross feed in tariff will be one of the most generous in the country. 

The ACT also offers a gross feed in tariff and while the Territory's rate is currently slightly lower, its program will last for longer. The NSW Solar Bonus Scheme will only initially last for 7 years, but with the addition of Solar Credits rebates most home owners will be able to recuperate their entire investment within that timeframe; particularly if the provider they choose was able to secure higher Renewable Energy Certificates values (RECs) before the recent RECs value free-fall.

Australian home solar solutions provider Energy Matters managed to secure a better RECs price for its clients and has already seen an marked up-tick in interest in solar power systems in NSW since the announcement.

"Finally, another state government, who has seen the light in opting for a gross feed in tariff. The revamped Solar Bonus Scheme is certain to generate a rush on systems in New South Wales." said Max Sylvester, co-founder of the company. 

"This is wonderful news for solar supporters in New South Wales and also for the industry. The fact that the NSW government has recognised that a gross feed in tariff is not only the best way to stimulate renewable energy uptake, but is also an economic stimulus package without the public debt is very encouraging. Let's hope other states follow the lead of the ACT and NSW, with the ultimate goal being a national gross feed in tariff program"

The Alternative Technology Association (ATA) has also applauded the revisions to the Solar Bonus Scheme. “We welcome the decision to pay households for all the clean energy they contribute to the state’s electricity supply. It is a win for families who are taking action on climate change and for green jobs in NSW.” said Damien Moyse, ATA's Energy Policy Manager. "We now look to the Rudd Labour Government to ensure that the emissions saved by each of these new solar installations is accounted for under his Carbon Pollution Reduction Scheme." 

Related:

NSW Solar Bonus Scheme details 
New South Wales solar power specials
Instant online quote for NSW solar power

Westpac Offers Interest Free Green Loans

 

Westpac is the latest financial institution in Australia to partner in the Federal Government's Green Loans program.
 
The company will offer an interest free loan worth up to $10,000 to go towards the purchase of energy saving and greenhouse gas reduction items such as residential solar power systems and solar hot water systems.
 
The green loans will be available from 16 November and include no monthly service fees, establishment fee or prepayment fee and are interest free; but are to be repaid over a maximum of four years.
 
Peter Hanlon, Westpac’s Group Executive for Retail and Business Banking, says Westpac is a keen supporter of a program that helps Australians take actions toward an environmentally sustainable future.
 
"Sustainability is an integral part of Westpac’s business strategy, having already reduced our emissions by 40% between 1996 and 2008 with a further reduction of 30% targeted by 2013. We will continue to develop innovative new products and services which meet emerging consumer needs on these issues." 
 
A free home sustainability assessment is the first step in qualifying for one of the interest-free loans.  A qualified home sustainability assessor will prepare a tailored report for applicants outlining recommended actions; among which may be the installation of a solar power system.
 
Between Solar Credits and other solar rebates and incentives, the Government's Green Loans program could see participants easily fully paying off a solar power system within the four year period, particularly under the benefits of theNew South Wales Solar Bonus Scheme and the ACT's generous gross feed in tariff system.
 
Related:
 
Further information on the Green Loans program.
 

News for Tuesday 10 November, 2009

 

• Newsflash - Gross Solar Feed In Tariff For NSW
  


• New Wind Power Record For Spain
  

View all news for Tuesday 10 November, 2009 on one page

Recent News

 

• Monday 09 November, 2009
  


• Friday 06 November, 2009
  


• Thursday 05 November, 2009
  


• Wednesday 04 November, 2009
  


• Tuesday 03 November, 2009
  

News archive