Queensland households can now secure a solar power system from Energy Matters from as little as $1 deposit; an effort by the company to help Queenslanders go solar before a deadline for the state’s solar feed in tariff incentive hits at midnight on Monday.
Once the deadline passes, what was Australia’s most generous current feed in incentive rate will be reduced to a shadow of its former self for households that don’t have their applications submitted in time.
To help as many households as possible maximise their financial return, Energy Matters is running special solar panel system deals until close of business Monday, July 9, which can be secured from as little as $1 deposit. The Energy Matters 133 SUN hotline will remain open this evening until 7pm and 10am – 4pm Saturday and Sunday.
While how much those acquiring a solar power system and submitting an application after July 9 will miss out on will vary depending on system size and location, Energy Matters says the loss in financial benefits could be up to $20,000 over the life of a system; possibly even more.
After July 9, applicants to the Queensland Solar Bonus Scheme will receive 8c per kilowatt hour for surplus electricity exported to the mains grid, plus a 6 – 8 cent per kilowatt hour electricity retailer contribution. This represents up to 68% reduction of the current 44c per kilowatt hour rate. While solar will remain a solid investment post-July 10; the new feed in tariff incentive rates will extend system payback time.
According to a report received by Energy Matters, since the Queensland government’s announcement to slash the program, well over 15,000 grid connect applications have been processed in the state. These will add to the 180,000+ solar power systems already installed in Queensland, further cementing the state as Australia’s home solar power stronghold.
The level of grid connect applications in just 9 days appears to have exceeded the previous record of 14,530 applications for an entire month for Queensland’s major electricity distributor, which occurred in May.