Rebate is still generous but is reducing each year.
Has the rebate been reduced on 1st january 2020?
Yes! it has been reduced and would reduce each year till it gets zero in 2030.
But there is no need to panic.
You can still enjoy the benefit of the solar panel rebate. If we compare the prices of 6.5 kW system, then you need to pay around $333 extra compared to 2019.
Understand the concept of solar rebate to know –
Why do we suggest “the sooner the better”.
As we know one Small-scale Technology Certificate, or STC is awarded for 1,000 kilowatt-hours of electricity produced by the solar system from the time it gets installed – until 2030. That’s why the year in which the system is getting installed plays a significant role in calculating the solar rebate.
There are three prime factors which are of significance in calculating the number of certificates a system is eligible for:
Solar panel capacity
Location of installation
Year of installation
As we have landed in 2020, the deeming period is now 11 years, and on January 1,2031, the deeming period would be zero. Recently Australian Competition and Consumer Commission (ACCC) was in news recommending to scrap the solar incentive. So we no longer know when the rebate would be gone.
Australia is switching to the renewable sources of power generation, to reduce carbon emissions. So, it’s better to take the maximum benefit of government’s rebate by installing solar now.
It’s best time to get solar installed, as solar pricing is all-time low, bright summer days are ahead of us. We don’t suggest to rush but start your research now.