Sign up before 23rd December 2023 to save up to $6000 through the Solar STC Federal Rebate NOW!
Are you in a new home or managing multiple properties? Congratulations! You might be eligible for significant savings through the Small-scale Technology Certificates (STCs) Federal Rebate for solar panels.
Understanding the STC Rebate
Small-scale Technology Certificates, serve as a financial incentive offered by the Clean Energy Regulator (CER) to encourage the adoption of small-scale renewable energy systems across Australia. The STC Rebate – as part of Australia's Small-scale Renewable Energy Scheme - certificates are designed to subsidize the installation cost of eligible systems, such as solar panels, air source heat pumps, and solar water heaters.
Essentially, STCs represent a tangible way for individuals, households, and businesses to receive financial incentives when installing solar power systems.
Why the Reduction in STCs?
STCs decrease on 1st January every year (similar patterns apply to other zones)
Each year on January 1st, the number of available STCs per project decreases. This reduction does not impact the price of a certificate but influences the number of certificates created. The gradual decrease in available STCs encourages individuals and businesses to install solar systems promptly by providing a declining incentive over time.
Annually, this will result in a mere 4-5% uptick in the final cost of a solar system for customers, encouraging individuals to consider installing solar systems at the earliest opportunity.
Eligibility for Small-scale Technology Certificates (STCs) under the Small-scale Renewable Energy Scheme (SRES) in Australia is generally open to individuals, households, and businesses that install eligible small-scale renewable energy systems. This includes systems such as solar panels, air source heat pumps, and solar water heaters.
More Insights Into the Subsidy
The amount of solar panel ‘rebate’ you can claim depends on where you live:
Geographic Location (Zones) determines how much your solar power system earns in rebates through STCs. Different areas in Australia produce varying amounts of solar energy. For instance, sunny regions like Darwin generate more solar power than cooler areas like Hobart, which means a larger rebate.
Australia is divided into four zones, each with its own ratings and multipliers for STC creation. These zones simplify the process without needing to calculate sunlight for every area. Recent changes in zone allocations for specific postcodes took effect on January 1st this year. You can check the updated zones HERE.
Type of properties eligible under State Rebate (Solar VIC)
A. New Solar Customers**
If you're considering installing solar panels in your new home or property, you could be eligible for the Solar VIC rebate, saving you a considerable amount on installation costs.
B. Existing Solar Panel Owners**
Even if you already have solar panels installed, you might qualify for the Solar VIC rebate, enabling you to benefit from additional savings or incentives for upgrades or system expansions.
C. Landlords and Second Home Buyers**
Are you managing multiple investment properties? Landlords investing in solar panel installations for rental properties or individuals purchasing a second home might be eligible for Solar VIC rebate. Additionally, there are potential tax benefits associated with these installations.
Non-Solar VIC Customers are also eligible for all of the above.
**Individual eligibility criteria applies for Solar VIC Rebate
CHECK YOUR ELIGIBILITY HERE: https://www.solar.vic.gov.au/solar-panel-rebate#am-i-eligible
Specific eligibility criteria may vary or have additional requirements based on the type of renewable energy system installed and the jurisdiction in which the system is being installed. It's recommended to verify eligibility details with the Clean Energy Regulator or authorized renewable energy professionals when considering the installation of a system.
Why Early Action Matters
Getting quotes for solar systems sooner guarantees the current rebate value. Waiting might risk a decrease in the subsidy due to fluctuations in STC prices caused by increased demand or market dynamics.
Lock in Your Savings Now!
The STC price fluctuates based on market demand. By acting now and getting quotes for solar panel installations, you can secure the current rebate value. Waiting might result in a reduction in the rebate amount, causing you to miss out on potential savings.
Are you eligible for the Federal Solar & Solar VIC Rebate?
Make sure to install before December 15th to secure the full potential of the Solar Federal Rebate!