Solar Incentives and Reductions
There are many great reasons why you should install solar panels on your residential or commercial property. One of which is Federal and State Government rebates / solar incentives.
Small-scale Renewable Energy Scheme (SRES)
Run by the Federal Government, the SRES provides a financial incentive for individuals and businesses to install small-scale renewable energy systems, including rooftop solar. It does this through the creation of small-scale technology certificates (STCs).
Think of STCs as a discount voucher on the cost of installing your solar system. The size of your system, where you live, and the number of STCs you are eligible for, are all factors that determine how much of a solar incentive you will receive.
The STCs are issued and redeemed for a dollar value (aka your solar incentive) that is then deducted off the cost of your solar system. The value of an STC at any one time depends on market conditions. Different areas of Australia receive different amounts of STCs depending on which zone the location falls into. Perth Solar Force can sort STCs out for you and we can take it straight off the upfront price of your system. It makes saving easy!
Large-scale Generation Certificates
If your commercial solar system is over 100 kilowatts (kW), you are no longer eligible for STCs, and now qualify for large-scale generation certificates (LGCs). Unlike STCs, the LGCs are not paid out at the time of purchase but given out each year. This means 100 kW systems are not eligible for an upfront discount or cashback, which can be an important thing to consider pre-purchase of a solar system. However, this doesn’t mean a solar panel system is not worth it. Small businesses can apply for a Government $30k Small Business Asset write off, through the ATO, to claim back for your solar power system. This is solely done through the company’s taxes, so it is a good idea to let your accountant know.
Western Australian Distributed Energy Buyback Scheme (DEBS)
In August 2020, the Western Australian Government launched the Distributed Energy Buyback Scheme (DEBS), replacing the previous energy buyback scheme.
WA’s electricity system is changing. Western Australians are taking up rooftop solar PV at a rapidly increasing rate, with around one in three households now having a rooftop solar PV system. This is expected to grow to one in two over the next decade.
The DEBS extends buyback payments for solar PV to include payments for energy exported from eligible home batteries and electric vehicles to support the uptake of these new technologies.
The scheme will apply to eligible households, schools and not-for-profits installing new solar panels or batteries or upgrading their existing solar panel system.
The DEBS introduces time of export payments for energy exported from a renewable energy system.
The new Synergy DEBS rates for as of 1 July 2024:
- Electricity exported between 3pm and 9pm will earn 10 cents per kilowatt hour (kWh)
- Electricity exported at all other times will earn 2 cents per kWh.
For more information on the Distributed Energy Buyback Scheme, including eligibility, visit here.
Feed in Tariff Scheme Ends
Western Australia’s residential Feed-in Tariff scheme was open for applications between 1 July 2010 and 1 August 2011.
The Feed-in Tariff scheme provided customers with a premium buyback rate for 10 years, so contracts associated with the scheme would have come to an end mid 2021.
Feed-in Tariff customers who upgrade their system will be eligible for DEBS if they meet the DEBS eligibility requirements. If you have any questions surrounding solar incentives, the experts at Perth Solar Force are here to help! Get in touch with us today.
