Changes to the Government’s home insulation and solar hot water program do not spell the end of affordable environmentally friendly hot water systems for homeowners.
The Federal Government has announced a new Renewable Energy Bonus Scheme to replace the Home Insulation Program and the Solar Hot Water Rebate Program, which were cancelled on the 19th of February 2010.
Under the Renewable Energy Bonus Scheme, households can now claim a $1000 rebate for solar hot water, and $600 for hot water heat pumps, provided they are replacing an existing electric water heating system. While the insulation rebate will be held off until June 2010, the hot water rebates are available immediately.
In addition, the hot water systems are eligible for further Government incentives through the Renewable Energy Certificates (RECs). The RECs are a trading commodity, which fluctuate in value depending on supply and demand. RECs are issued for small-scale solar systems and other renewable energy systems, including solar hot water systems and hot water heat pumps. The number of certificates you are eligible for depends on the size and type of system you install. A hot water heat pump is currently worth 30 RECs, which equates to an additional discount of $1200 if the RECs are valued at $40 each.
NQ Solar recommends the Stiebel Eltron heat pump for anyone wanting to cut down their water heating bills for a minimal cost. The heat pump is described as an “air solar system” and works on a similar principle to an airconditioner but in reverse. Using state-of the-art reverse refrigeration technology, the heat pump uses 80% less energy than a standard electric system and is cheaper to install than solar hot water. The system is also suitable for tariff 33 connection, meaning the small amount of power the unit does use is running on a cheaper electricity rate. After installing a hot water heat pump, you’ll save hundreds of dollars on your power bill every year.
The Stiebel Eltron is widely recognised as a superior heat pump unit, and is the most efficient domestic heat pump on the market. It was named the “Energy Saving Product of the Year” for 2009 in the annual Master Plumbers and Gasfitters Association of Western Australia awards.
Those wanting to find out more about heat pump technology and the available incentives can call NQ Solar on 1800 NQ SOLAR (1800 67 76527) or email firstname.lastname@example.org