A new interest-free loan scheme will reportedly support the installation of residential and small commercial solar power systems in Tasmania.
In his 2016-17 Budget Speech last week, Treasurer Peter Gutwein acknowledged 2016 has been a challenging year in the state’s energy sector due to record low rainfalls and the loss of Basslink.
“Tasmanians and Tasmanian businesses are now more acutely aware of their energy needs, and it is timely that we look to improve how well we use energy at the household and small business level,” he said.
Treasurer Gutwein said as part of a suite of measures, the Government would develop the Tasmanian Energy Efficiency Loan Scheme.
” This new scheme will facilitate up to $10 million in no interest loans to support small businesses and households invest in a range of energy efficiency products.”
The Treasurer didn’t elaborate further during his speech, but it appears the Scheme will support both homeowners and small businesses in installing solar power systems.
The Courier Mail reports guidelines for the scheme will be released shortly and the program will be open for applications early in the 2016-17 financial year.
The Tasmanian government has come under increasing pressure to boost renewable capacity in the Apple Isle since the Basslink outage began in December last year.
It has also been called on to recognise the value of existing solar installations. While solar continues to be a solid investment, recent research by the Tasmanian Renewable Energy Alliance and Solar Citizens indicates surplus electricity generated from household solar in Tasmania is worth more double the current solar feed in tariff.
The groups have urged Minister for Energy, Matthew Groom, to step in and set a fair price for solar.
With energy storage becoming increasingly affordable, more Tasmanian solar households may choose to store some or all of their high value solar electricity in battery systems. According to Energy Matters, a 4.16kW solar panel system featuring Enphase AC Battery storage can return a financial benefit of $817 – $1,010 a year in Hobart; depending on installation location and electricity consumption profile.
The modular Enphase energy storage system enables solar owners to start out small and then build on capacity at a later date.
