1. Small-scale Technology Certificates (STCs): This is a federal government initiative that provides financial incentives to households and businesses for installing small-scale renewable energy systems, including Solar panels. The number of STCs awarded depends on the size of the system and the region’s Solar radiation levels, and these can be sold to offset the upfront cost of the system.
2. Feed-in Tariffs (FiTs): Many Australian states and territories offer feed-in tariffs, which provide a payment for excess electricity generated by Solar systems and fed back into the grid. The rates and terms vary depending on the region, but they generally provide a financial incentive for Solar system owners to export excess electricity.
3. Solar Homes and Communities Plan: This program offers grants to eligible low-income households, community organizations, and schools for the installation of Solar power systems. The grants cover a portion of the cost of purchasing and installing Solar panels.
4. Clean Energy Finance Corporation (CEFC): The CEFC offers finance options and low-interest loans to businesses and organizations for investing in renewable energy projects, including Solar power systems. These loans help reduce the upfront costs of installing Solar panels.
5. State-specific incentives: Several states and territories in Australia offer their own Solar rebates and incentives. For example, the New South Wales (NSW) government provides the Empowering Homes program, which offers interest-free loans to eligible homeowners for installing Solar battery systems. Similarly, Victoria offers the Solar Homes program, which provides rebates and interest-free loans for Solar panel installations.
6. Tax incentives: The federal government provides tax incentives for small businesses investing in Solar power systems through the Instant Asset Write-Off scheme. This allows businesses to fully deduct the cost of eligible assets, such as Solar panels, in the year they are installed.
It is important to note that the availability and details of these rebates and incentives may vary over time and across different regions in Australia. It is advisable to check with relevant government authorities or consult with Solar system providers for the most up-to-date information.
