The introduction of solar into the Australian market was given a boost by the government in 2 ways. Firstly, the government allowed the excess energy produced by the solar system to be sold back to the grid at 60 cents per kilowatt hour. This was called a ‘feed in tariff,’ or ‘FITs’ for short. Secondly, the government introduced a rebate/ subsidy scheme at the time of installation. This rebate/subsidy amounted to saving thousands of dollars of the cost of a new solar system for the homeowner.
Recently we have seen a dramatic roll back on the FITs taking the tariff from 60 to 5 cents per kilowatt hour. Now the government is starting to roll back the solar rebate/subsidy from January 1, 2017.
The solar rebate/subsidy has provided Australian homeowners the ability to purchase solar systems at prices far cheaper than comparative systems in other countries. This pricing structures ensured solar was a great investment, with many homeowners paying off their systems in under 3 years.
The planned phasing out of the rebate/subsidy will be over a period of years. The rebate/subsidy will reduce by one-fifteenth of its current amount on the first day of each year until 2030 when it will end.
To make the most of the rebate/subsidy it is important to have a solar system bought and installed prior to the end of this year. This means that the homeowner will need to purchase their solar system during the month of November to ensure the system is installed prior to January 1, 2017.
Currently True Value Solar has a range of solar power options that can be installed and claim the full government rebate/subsidy.
Call the expert team at True Value Solar on 13 76 52 to secure your solar installation before time runs out.