Solar Credits
The Solar Credits scheme allows solar power system owners to create additional renewable energy certificates which can then be sold or assigned to the installer in return for an up front discount on the system price. The Solar Credits scheme multiplies by 5 the number of RECs which are be produced by systems up to 1.5kW. Systems greater than 1.5kW will receive the multiplier on the first 1.5kW and the standard number of RECs for any additional capacity.
The scheme will apply to all systems installed after the 9th of June 2009 which do not also receive funding from the SCHP rebate. There is no means test and all systems will be eligible including those installed on commercial premises, unlike the previous rebate.
Since the scheme is market based, value of the credits will vary over time. Currently the scheme would add additional credits of approximately $4,500 value for a 1.5kW or greater system installed in Sydney. This is on top of the standard renewable energy credit discount. For up to date information on the value of the additional Solar Credits, please contact us.
NSW Feed in Tariff
The NSW gross feed in tariff, the Solar Bonus Scheme, came into effect on the 1st of January 2010. The scheme rewards solar power system owners with a premium rate of 60c/kWh for every unit of electricity generated by their solar power system and is not dependant upon the amount of electricity consumed. This significantly reduces the payback period of solar power systems. The maximum system size eligible under the scheme is 10kW.
The payback period for eligible systems under the scheme is generally approximately 5 years. The scheme runs for a total of 7 years after which the system owner will receive the same rate for generated electricity as they pay for consumption which, with rapidly rising electricity prices will be significantly higher in 7 years than they are currently.
Autonomous Energy has long promoted the concept of feed in tariffs as a better means of providing an incentive for solar power as it rewards customers who choose high quality, efficient systems which will produce significantly more power over their lifetime than cheaper, lower quality systems. More power means more payback! Please contact us to for more information on how a high quality solar power system from Autonomous Energy could provide you with an economically and environmentally superior solar power solution.
The NSW FiT is available for both residential and small commercial premises, with sites consuming less than 160MWh per year eligible.
ACT Feed in Tariff
The ACT now boasts the nations first gross feed in tariff for solar power systems. This scheme rewards solar power system owners by paying them a significant premium for every kWh of electricity generated. The rate is currently 3.88 times the average ACT electricity rate. Once the system is installed and the FiT approved, this rate is then locked in for the system owner for 20 years.
The 'gross' nature of the ACT FiT scheme means that it is also highly attractive to commercial property owners as the level of electricity consumption at the site does not effect the return from the system. Furthermore, the maximum system size of 30kW allows significant system capacity to be installed under the scheme.
For more information on how the feed in tariff will affect the feasibility of installing solar power at your home or facility, please contact us.