The solar power rebate which makes solar power so affordable is being phased out, and on January 1st 2017 the STC price will be reduced.
The rebate will be reduced by one fifteenth every year for the next fifteen years until 2030 when the scheme finishes. There has been a lot of hype about this lately, so it is important to emphasis that solar rebates are not finishing at the end of this year. Nonetheless, on the 1st of January solar power prices will rise across the board by several hundreds of dollars, and the larger the system the bigger the price jump.
Make sure you don’t miss out, and remember, you must not only order your system by the end of the year but it must be installed and we only have a few weeks to go until we will run out of installations spots for the year.
How Will the Solar Rebate be Phased Out?
Residential solar power systems receive 15 years worth of STCs when they are installed. In reality, they are expected to last much longer, however 15 years is a system’s maximum life as a part of the government scheme. This means that on the 1st of January each year, the government rebate will reduce by one fifteenth.
Is the Government Rebate Guaranteed to be Around for 15 years?
No. As we have seen over the past few years, there has been a lot of pressure from Canberra to scrap the rebate entirely. Although things have settled down a little, there is no guarantee that the rebate will be left in place for the next 15 years. If you are worried about the chance of the rebate being closed to new applicants, the answer is simple: install a solar power system today and claim your rebate! Once you have placed your order, we lock in your rebate and deduct the full value off your quote.