20-Aug-2009 New Solar Electricity Rebate Approved! Finally after months of uncertainty and turbulence the solar industry has been thrown a life line with today’s approval of the Renewable Energy Target Legislation by the Senate. The RET Legislation governs the new solar electricity rebate which many home and business owners were waiting on before investing in solar electricity.

“Now there is nothing standing in the way of people who want to make a positive impact on the environment by installing solar electricity.” Said Adam Tesoriero, Director of SolarSwitch.

The new rebate, known as the “Solar Credits Scheme”, is based on a multiplier of the Renewable Energy Certificates or RECs that each system earns. A solar electricity system up to 1.5kW will now be worth five times the RECs previously allocated. This will equate to a saving of around $7000 on a 1.5kW system.

Unlike the previous government funded $8000 solar electricity rebate the Solar Credits Scheme is not means tested and is open to everyone including homeowners, businesses and community groups.

The RET legislation had looked doomed when it was tied to the Government’s controversial Emissions Trading Bill, which was voted down by the Senate last week. After strong pressure from the solar industry the Government agreed to separate the RET legislation allowing it to pass today.

“If we had to wait any longer we certainly would have had to lay off staff as our order volume had dropped dramatically, so this rebate scheme has come in the nick of time. We are also very glad our patient clients do not have to wait any longer to have their solar installed.” Said Mr Tesoriero

After a challenging few months, the solar industry will now be focusing on re-educating the public about the new rebate scheme and letting everyone know that installing solar electricity is once again within their reach.

“Hopefully now we can get back to making a contribution toward tackling climate change by helping people who want to reduce their carbon footprint by installing solar electricity.” Said Mr Tesoriero

The new rebate scheme coupled with various solar buy back schemes (or Feed-In-Tariffs) available in many states of Australia means installing solar electricity is not only great for the environment but a financially sound investment too. For example the NSW Government has announced anyone who owns a solar electricity system will be paid four times the retail rate for any excess solar electricity they do not use immediately and feed into the grid from January 1st 2010.

QLD already has a similar scheme and the ACT has a gross feed in tariff where solar electricity system owners are credited almost four times the retail rate for everything they create.

Small businesses who install solar are even eligible for the Federal Government’s bonus 50% tax rebate until the end of this year.

Solar Hot Water rebates are still covered under a separate program with up to $4500 in rebates available for those replacing an electric hot water system.

For more information or a Free Home Assessment contact Solar Switch here or on (02) 8985 9945 or 1300 880 969

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