Why solar power pays
Why it pays to install solar power
There’s an overwhelming EKO-logical argument for switching to EKO solar power. But now, the EKO-nomical argument is just as compelling. For a start, the government provides incentives to reduce the cost of a system. Then, over the long life of the system, the solar power you generate will cut your power bill and help protect you from the spiralling costs of electricity generated from burning coal. Furthermore, you could even earn money from the power your system generates by feeding it back into the electricity grid (what you earn depends on the type and availability of feed-in tariff in your state and your personal circumstances).
What the governments put in
Both the federal and state governments are offer financial incentives to install solar power and reduce your reliance on the coal-fired electricity grid.
Currently, there are two forms of government incentives:
- Small - scale Technology Certificates (STCs) /Solar Credits (federal)
- Feed-in Tariffs (state)
Federal government purchasing incentives
Small - scale Technology Certificates (STCs) and the Solar Credits Scheme – reduce the total cost of installing a solar system. Even better, neither is means- or income-tested.
As a residential homeowner, small-business owner or community organisation, you’re eligible for these incentives, so long as you haven’t already claimed under the old Australian Greenhouse Office rebate. (If you did and want to add to your existing system, speak to one of our renewable energy consultants for help.)
State government income incentives
Here, you get paid for the electricity you generate (using a renewable source) and feed back into the electricity grid. This is called a Feed-in Tariff. There are two different types of Feed-in Tariff, depending on where you live.
In Victoria, Queensland, South Australia and Tasmania, there is a Net Feed-in Tariff. Here, you get paid for any excess electricity produced by your solar system that is automatically fed back into the main power grid. Click here for more information on Net Feed-in Tariffs.
In the ACT, you get paid a Gross Feed-in Tariff, which means that ALL electricity your system generates is fed straight into the electricity grid. So, ALL of the electricity your system produces – no matter how much electricity you use – is earning you money. Click here for more information on Gross Feed-in Tariffs.