So you’re thinking about installing solar on your roof in NSW or Queensland, huh? The Aussie government promotes ‘green initiatives’ and will help you financially, but they haven’t made it easy for you.
Solar Credits and STCs
First of all, you get ‘Solar credits’ for installing eligible solar systems in Australia. The credits are simply multipliers for renewable-energy incentives called STCs (or Small-scale Technology Certificates). What the heck is that? Well, it’s probably like a coupon or a gift certificate that you can redeem for cash (or tax credits), right? Wrong. They’re more like green energy stocks that are traded among registered agents or on a specific market called the ‘Clearing House’. What the heck is a registered agent? Maybe your installer. But maybe not.
Many people are under the false impression that you have to be an environmentalist to have interest in installing solar. Paying the upfront cost to install a solar electric system is something only a “green” person would do. Well, that’s not true anymore. Here are 5 financial reasons to go solar now!
1. Utility rebates are decreasing as more people decide to install solar.
The California Solar Initiative (CSI) program will provide more than $3 billion in incentives for solar-energy projects in California. However, the amount of the incentive is scheduled to decrease in 10 steps over the duration of the program. Pacific Gas and Electric (PG&E) and San Diego Gas & Electric (SDG&E) are already in step 5 for residential projects, while Southern California Edison (SCE) recently dropped into step 4.
The difference between step 4 and 5 for an average size, 4 kW, solar electric system, is approximately $1,000 in your pocket. The longer you wait, the more rebate money you lose!