This page briefly describes some of the support available to help finance or accelerate payback time of a commercial solar power system, such as commercial solar rebates.
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.
Types of Commercial solar rebates, grants and incentives
RECs, STCs and LTCs
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.
The Federal Government has decided to close the Renewable Energy Target (RET) program under which the current certificates schemes operate. The RET ends in 2020.
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. You can find out more about FiT here. While not strictly classed as a commercial solar rebates, they do mean more money in your pocket.
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 Finance/Agreement
Environmental Upgrade Finance 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.
In Victoria, EUF may be used for works that improve the energy, water or environmental efficiency or sustainability of the building. For example, this could include improving water or efficiency, installing on-site energy generation, reducing pollution or waste, or improving the efficiency of the use of materials. Find out more here.
In NSW, an Environmental Upgrade Agreement (EUA) helps businesses with finance in order to upgrade commercial buildings and maximise a building’s energy efficiency. Under an EUA, a lender provides loans for upgrades to commercial buildings to improve the building’s energy efficiency, and the local council will collect the repayments for the loan through the rates system. This provides a more secure loan for lenders, who can then offer them at competitive rates and for longer terms. Find out more here.
CBA Energy Efficient 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. Find out more here.
The world of commercial solar rebates, low interest loans, grants and other financial assistance can be a confusing one that constantly shifts and changes. Contact Energy Matters 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 133 786.
Local Government Finance Program
The Clean Energy Finance Corporation’s Local Government Finance Program provides flexible and competitive fixed-rate, long-term finance for councils.
Through the program, the CEFC provides flexible and competitive fixed-rate, long-term finance for councils. It targets major investment projects with the potential to make a significant difference to a council’s energy consumption.
- Finance for eligible projects across renewable energy, energy efficiency and low emissions technologies
- Finance can be drawn over three years
- Ability for multiple councils to enter into joint financing agreements for eligible projects
- Access to competitive fixed-rate longer-dated senior debt, up to 10 years
- A straightforward approval process with simple loan documentation