GOVERNMENT REBATES AND INCENTIVES
SMALL-SCALE TECHNOLOGY CERTIFICATES (STCs)
Small-scale Technology Certificates are issued for small scale solar photovoltaic systems and other renewable energy systems, including hot water heat pumps. The number of certificates issued depends on the size, location and deeming period of the certificates. The certificates are a trading commodity and are traded on a market; hence fluctuate in value on a daily basis. The number of certificates you are eligible for vary. For example, a 303 litre Stiebel Eltron heat pump entitles you to 24 STCs. For a 1.5kW Grid Connect System, you are entitled to 93 STCs under the Solar Credits Scheme.*
As a STCs trader, NQ Solar is able to discount your solar energy upfront for the value of your STCs. This means you save money straight away on the cost of installing solar!
Please note, the STCs price quoted on the NQ Solar website is applicable to systems purchased from NQ Solar. For those interested in selling their STCs to NQ Solar, please contact us for a current price.
To find out more about the Small-scale Technology Certificates, click here.
*Current as of 8/12/11
SOLAR CREDITS SCHEME
The Solar Credits Scheme is currently available to residential, rental and commercial properties. The Solar Credits Scheme multiplies the number of the STCs by a factor of 2 for the first 1.5kW of a system. Any additional kilowatt above 1.5kW receives a further STCs discount with no multiplying effect. The discount is determined by the number of STCs (once the Solar Credits Scheme is applied), multiplied by the value of the STCs at time of quotation, as shown in the following example:
A 2kW Grid-connect System installed in North Queensland:
First 1.5kW = 31.095 STCs
Solar Credit Scheme Multiplier = (31.095 STCs x 2) = 62.19 STCs
Plus the extra 0.5kW of the system = 10.365 STCs + 62.19 STCs = 72.555 STCs
Discount on a 2kW System = (No. STCs x value of STCs) = 72.555 STCs x $27* = $1959
TOTAL DISCOUNT = $1959 off a 2kW Photovoltaic Grid-Connect Solar System
* Assuming STC market value = $27
CHANGES TO THE SOLAR CREDITS SCHEME
The Federal Minister for Climate Change and Energy Efficiency has announced that from July 1st 2011 the Solar Credits Scheme multiplier will reduce from 5 to 3 and will decrease by 1 each year thereafter until the year 2013. Currently the multiplier is 2 and will decrease to 1 as of July 1st 2013.
To find out more about the Solar Credits Scheme, click here
To find out more about photovoltaic grid connect solar systems click here.
SOLAR BONUS SCHEME (QUEENSLAND)
The Solar Bonus Scheme provides a feed-in tariff for electricity generated by solar photovoltaic (PV) systems that is exported into the grid. This means your power bill will be credited with 8c for every kilowatt hour (kWh) that your grid connect system feeds back into the grid above your electricity demand at any time while your PV system is generating power. Any electricity generated by the grid connect system and used in the household will be free of charge.
Changes to the Solar Bonus Scheme: Ergon will no longer buy excess power from systems 5kW or larger, installed after June 7th 2011.
Ergon will pay an 8c feed-in tariff
The Solar Bonus Scheme encourages households to ensure minimal power is used during the day and encourages consumers to be energy conscious. By ensuring minimal power is used during the day, maximum benefit can be obtained from the solar system. Families who are out during the day will ensure all lights and fans are off, all appliances are off at the power point, appliances like dishwashers and washing machines to be used early morning or evening to obtain the maximum power to be exported to the grid during the day.
An example of the daily power usage of a household of five compared to the power generated by a PV system is illustrated in the graph below. The bars in red indicate what power is being used by a household and the bars in green indicate the power being generated by the PV system. Whenever the green bars exceed the red bars, excess power is being exported into the electricity grid.
OFF GRID POWER SYSTEMS INCENTIVE
Off Grid Power Systems are also eligible for the Solar Credits Scheme discount up to a size of 20kW.
An off grid power system is defined by as being installed at least 1 kilometre from the nearest main-grid line or less than 1 kilometre from a main-grid line where the owner has provided written evidence from the local network service provider that the total cost of connecting the power to the main-grid is more than $30,000.
The Solar Credits Scheme multiplier will only apply to systems that have been installed prior to the annual STC cap being met of 250,000 STCs for the financial years of 2011 – 2013.
If the annual cap is equal or exceeded the Solar Credits multiplier immediately applies to only the first 1.5W of capacity installed. Generation from capacity above 1.5 kW will still be eligible for the 1:1 rate of STC creation.