Incentives to consider solar power for your home

Incentives to consider solar power for your home

Solar power is fast becoming an increasingly viable method for generating energy for your home, or heating water for your household. Consequently, Australia has a number of incentives available on a national and territorial level as part a continuing attempt to get the public to embrace solar energy. What follows is a quick guide to these incentives.
n
nFirst off it is a good idea to consider the general renewable energy incentives available. One such federal package offers $1,600 for Australian homeowners who insulate their ceilings. There is also a $1,600 rebate available for installing solar hot water systems, as well as a smaller $1,000 rebate available for updating to a heat pump system instead of keeping your old electric one. These are non-means tested.
n
nFor solar panels however, rebates of up to $8,000 have gradually been phased out over the years to make way for state run feed-in tariffs (however, at the time of writing a petition is ongoing for a national gross feed-in tariff). For those in and around the capital, Canberra, the ACT feed-in tariff means the homeowner will be paid around 50c/kWh for the energy fed back to the grid over a period of twenty years.
n
nThe South Australian government also offer a solar feed-in scheme and have done so since the beginning of 2008. Until 2028, SA residents will be paid 44c for every kWh they give back to the grid. In keeping with the aim of making the government carbon neutral by 2020, new owners of solar or electric heat pump systems are also subject to rebates of $500.
n
nA feed-in tariff id set to appear in Victoria by the end of 2009, yet until then there are already a number of renewable energy incentives to make note of. Aside from the Australian Government Solar Hot Water Rebate, there is also the Victorian Government scheme that offers a rebate in both metropolitan and regional areas. Queensland has the aforementioned rebates available and a feed-in tariff of 44c per KWh.
n
nAdditional incentives to consider are so-called ‘Renewable Energy Certificates’ or (RECs). RECs are essentially shares which are available when you buy solar (and heat pump) hot water heaters. These can then be traded and can go towards pushing the price of your solar provider down.
n

Posted Date: 2009-11-03 20:57:27