Solar Rebate in 2022
Electricity these days has become very expensive and some parts of the world are facing shortages. Thanks to the fast depleting fossils. Solar energy is becoming an attractive option to consumers since they are realizing the cost-effectiveness of switching to renewables. To further promote households to shift to solar ways of electricity, the government has launched the Small-scale Renewable Energy Scheme (SRES).
What is the Solar Panel Rebate?
The Federal government of Australia offers Small-scale Technology Certificates (STCs) on the installation of a renewable power generation system which can be claimed for a rebate (or a refund) in order to encourage people to go solar.
Will there be a rebate reduction in 2022?
When you install a solar device, you can claim your rebate through Small-scale Technology Certificates (STCs). The value of rebate depends on a few factors like the year of installation of the solar panel system, location of installation in Australia, solar panel capacity, and STCs, the value of which depends largely on the current market trends.
The STC scheme was started in the year 2017 and will end in the year 2030. Each year there is a reduction in the amount of rebate. Therefore, the earlier you make up your mind to switch to solar, the more you save. Since 2017, there is an almost 10% reduction each year in the rebate amount. As a general guide, the subsidy will be $320 less than the previous rebate value on a 6.6kW system in January 2022. This is with the assumption that the present STC values hold and have been stable in the last few months.
Now, should you buy solar panel systems? The answer is Yes. It is any day a great investment keeping in mind the future. The future is solar since the non-renewables have almost exhausted. The sooner you make a decision and get your renewable energy systems installed, the better it will be with more savings. As mentioned, the value of the solar rebate largely depends on the date of installation and not the date of purchase. So if you make your decision and get your installations done this year, you’ll save more than what you would be in the coming years- not to forget the electricity bills you will be paying till then.