23-Jun-2009
SOLAR ELECTRCITY NSW FEED IN TARIFF WORTH THOUSANDS OF DOLLARS
The NSW Government today announced a new solar electricity “feed in
tariff” where system owners will be credited four times the retail rate
for any excess electricity fed into the grid.
Those with a solar electricity
system will be paid 60 cents per kilowatt hour for the excess
electricity they generate. This could be worth up to $1400 per year on a
1.5kW system.
This tariff will, in many cases,
drastically reduce the payback period for a solar electricity system to
as little as five years.
“This is a long awaited
announcement, and brings NSW in to line with many other states of
Australia that already have a feed in tariff” Said Adam Tesoriero,
Director of SolarSwitch.
The feed in tariff will be
introduced from the 1st January 2010 and will operate for 20 years.
The NSW announcement follows the
Federal Government’s shock early axing of the $8000 solar electricity
rebate a fortnight ago. A new rebate scheme is being introduced to
replace the Solar Homes and Communities Program.
The new cash incentive will be
based on a multiplier of the “Renewable Energy Certificates” or “RECs”
where anything up to a 1.5kW solar electricity system will now be worth
five times the certificates that were previously allocated.
“The great thing about the new
scheme is that it is no longer means tested and is open to everyone, so
businesses and people wanting to put solar electricity on their rental
properties can access this new incentive” Said Adam Tesoriero Director
of Solar Switch.
This new system will only apply to
installations that have not received the old rebate.
Renewable Energy Certificates
fluctuate in value so it is difficult to say exactly what rebate a
system will attract however based on current values the rebate will be
around $4500 to $5000 for a 1kW system and $6500 to $7000 for a 1.5kW
system.
“Unfortunately the Federal
Government has delayed the vote on the legislation that governs the new
rebate until August, leaving the solar industry in limbo.” Said Mr
Tesioriero
In the last year more than 4500
solar electricity systems have been installed in NSW under the Solar
Homes and Communities Program. Solar Switch is proud to have
successfully installed almost 20% of these systems.
“Solar Switch will continue to
offer competitively priced systems using the best quality equipment and
excellent service based on the new rebate incentives” Said Adam
Tesoriero.
NSW electricity prices continue to
skyrocket with another 21% increase confirmed for next month.
“When you combine the new feed in
tariff and rebate scheme, and the fact electricity prices are rising
fast, installing a solar electricity system makes great financial sense
for homes, schools, and businesses.” Said Mr Tesoriero
For more information or a Free Home
Assessment contact Solar Switch on (02) 8985 9945 or visit www.solarswitchaustralia.com.au
Media Enquiries - Alle
Brunning (m) 0414 504 488
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