Rebate Update

Solar Power

Solar Credits Scheme

Solar Credits are provided by the federal government in the form of additional Renewable Energy Certificates (RECs - see below) for eligible small-scale solar PV, wind and hydro electricity systems installed on or after 9 June 2009. While you may apply for and sell RECs yourself (just ask us how), Solar Depot will also allow you to transfer your right to obtain them to us in exchange for an equivalent-value discount off the purchase price of our solar PV systems.

Solar Credits apply to the first 1.5 kilowatts (kW) of capacity of the system you install. The level of financial support they provide depends on the market value of the RECs at the time you sell or transfer them, and the location and size of your system.

For more information contact us at Solar Depot on 8382 7555, or visit www.climatechange.gov.au

Feed-In Tarriff

The "Feed-In Tarriff" is the value per unit of electricity that electricity retailers are required to pay individuals or organisations for any excess solar power they generate (over and above their own usage) and feed back into into the grid.

This value is currently a minimum of 44 cents per unit of electricity, guaranteed by the South Australian government. Your electricity retailer may also pay you an additional value on top of this.

This elevated buy-back figure is the central financial incentive to install solar power in your home or to establish a Solar Farm.

Renewable Energy Certificates (RECs)

These are certificates with a monetary value provided by the federal government to those installing renewable energy sources, as a reward for the carbon emissions they're likely to save over a 15-year period. They're currently fluctuating in the $33-$36 range. RECs can be sold on to mainstream electricity retailers or other buyers for cash payment, but are more often transfered to solar system retailers in exchange for a discount on a system's purchase price.

As of 2011 the RECs value for small generators like us is to be set at $40. This will be legislated later this year

For more information visit www.orer.gov.au/recs

Solar Schools Program

Temporarily suspended until May 2010, the Solar Schools Program allows to apply for a federal grant of up to $50,000 towards the cost of installing a solar PV system. For more information visit www.environment.gov.au

Solar Hot Water

Federal Government Rebate

Anyone replacing an electric hot water service with a solar equivalent is eligible for a $1,000 rebate from the federal government. This rebate differs from others because it is paid directly to the household rather than being offered by solar retailers as a point-of-sale discount. It typically takes about 8 weeks to receive your funds.

RECs

See entry above.

State Government Rebate

The South Australian government's Solar Hot Water Rebate Scheme provides a rebate of $500 on the cost of a new solar hot water system. Applicants must hold at least one of the following Australian Government concession cards:

• Centrelink Health Care Card
• Centrelink or Department of Veterans' Affairs Pensioner Concession Card
• Department of Veterans' Affairs Gold Card - Totally and Permanently Incapacitated
• Department of Veterans' Affairs Gold Card - War Widow
• Department of Veterans' Affairs - Extreme Disablement Adjustment.