Exercise caution surrounding subsidy hype. The zone 3 solar rebate Perth and Bunbury region customers can access certainly isn’t a fixed rebate/subsidy. Comprised of Small Technology Certificates (STCs), the value is subject to potential change daily. However, more recently, the spot price per certificate has remained relatively stable, affecting a steady total subsidy amount. Here is the need-to-know information when considering the solar rebate for the Perth and Bunbury region, Western Australia.
How much are you entitled to
The solar rebate Perth customers can access varies depending on system size (combined solar module generation capacity). Most typical residential subsidies start from $1,569 for a 3.7 kW solar system to $2790 for a 6.6 kW solar energy system. Subsidies increase for larger solar energy systems based on the ability to offset more significant carbon emissions. 10.3 kW solar systems enjoy a $4359 contribution to offset the cost, while a 13.3 kW system benefits from up to $5579.
As a traded commodity for offsetting carbon emissions, the solar rebate has the potential to fluctuate daily while degrading in annual blocks for the remaining 8 years.
Even though spot value fluctuations have occurred in the past, it’s advisable to avoid rushing a buying decision based on subsidy value. Instead, ensure an informed buying decision as the fluctuations, and annual variances are minimal over a solar energy system’s life expectancy.
In the following content, understand how to calculate your precise solar subsidy and the amount you are entitled to depending on your ideal energy system size.
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How the solar rebate works
Your new solar energy system is eligible for a nominated amount of certificates based on its ability to offset carbon emissions over the next 8 years. That’s right, you will produce clean, green energy, not just energy savings. Therefore, the Australian Government Clean Energy Regulator rewards you with a designated number of Small Technology Certificates (STCs) depending on your solar energy system size.
Your subsidy value is acquired by trading your Small Technology Certificates with big polluters who must purchase these clean energy certificates (STCs) to offset their carbon emissions towards net zero. Such complexities are often too much for most, including solar companies. Therefore, releasing the Small Technology Certificates for a point-of-sale discount at an agreed market rate is more manageable.
At the time of writing, $38 is considered a stable rate amongst most retailers, allowing for potential market fluctuations without consumer clawback in the event of change.
On top of a point-of-sale discount (subsidy), most residential solar systems are eligible for a feed-in tariff through Synergy for excess energy exported to the grid. Learn more ›
Lock it in
Small Technology Certificate trading values have the potential to vary. July 2017, the spot value of STCs plummeted from $38 to $26 almost overnight due to an oversupply with insufficient purchasers. One year of STC value uncertainty followed. Since this and other instances, lost STC value recovery (clawback clause) is embedded into the terms and conditions of many installation contracts. In addition to the contract price, such could render the lost STC value payable by the customer after installation.
Perth Solar Warehouse monitors markets extensively and will never alter costs after a contract is signed unless agreed upon by all parties.
An adequate installation agreement should have the following clearly defined:
- STC value, e.g. $38.
- STC quantity, e.g. 73 certificates (as in 6.6 kW).
- STC total value, e.g. $2774 ($38 x 73 certificates).
When offered a point-of-sale discount as part of a solar package, you want the solar rebate to be precise and broken down into an easily calculatable format.
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How to calculate it
A formula for calculating the solar rebate exists, and here it is.
Array Combined Watts (Standard Test Conditions) x 1.382 x the current Small Technology Certificate multiplier of 8 years / 1000. The result is the maximum number of Small Technology Certificates eligible for your solar energy system.
Example: 6.6 kW Solar System
Solar Array Combined Watts (6600) x 1.382 x 8 (years) / 1000. The resulting number is the maximum STCs eligible.
(6660 x 1.382) x 8 / 1000 = 73.
Determining the amount of Small Technology Certificates (STCs) is 73 for a 6.6 kW system. Multiply this amount by the current market value of $38.
73 STCs x $38 = $2774.
Subsidy by system size expanded
For most, calculations are too time-consuming in a modern world full of fast information. It would be best if you had the figures to verify against.
The most common solar panels Perth WA rebate (subsidies) 2023 for residential homeowners based on a $38 STC value and utilising a 415 W solar panel variant for multiplication is as follows:
The above combined Small Technology Certificate value is an example and subject to potential market fluctuations.
In all system sizes, the solar panel rebate Perth and Bunbury region customers can access provides a significant upfront saving on the cost of energy security. Considering the value of the subsidy is due to reduce each year, now is an ideal time to invest in your energy future. Aim for a hassle-free transition to solar power. Perth Solar Warehouse Sales Support ensures you get the maximum solar subsidy with no risk potential.