Federal Government Solar Panel Rebate Scheme

If you buy a solar system today july 2020 it is subsidised by a federal government scheme worth about 585 per kw installed based on a 39 stc price i explain this later.

Federal government solar panel rebate scheme. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing. The bigger the solar power system the bigger the rebate. A 6 1kw solar system will you get a rebate worth 3 535 and a 10kw solar power system gives you a rebate of 5 775. Both homeowners and businesses qualify for a federal tax credit equal to 26 percent of the cost of their solar panel system minus any cash rebates.

The solar rebate officially known as the small scale renewable energy scheme sres provides those purchasing solar pv systems with a substantial rebate based on the amount of small scale technology certificates stcs that the system is permitted to. Stcs are certificates which system owners or installers can trade in exchange for an upfront discount to the cost of a solar system. Households and small businesses across australia that install a small scale renewable energy system solar wind or hydro or eligible hot water system may be able to receive a benefit under the small scale renewable energy scheme sres to help with the purchase cost. The ret incentivises small scale and large scale solar projects differently with separate segments known as the large scale renewable energy target lret and the small scale renewable energy scheme sres.

An average sized residential solar. This means a 5kw solar system will give you a rebate of 2 870. The stc price has been hovering between 35 and 40 for the last couple of years. It s still in full swing and available to all australians through 2019.

The federal government provides a solar tax credit known as the investment tax credit itc that allow homeowners and businesses to deduct a portion of their solar costs from their taxes. Small scale renewable energy scheme stc s the small scale renewable energy scheme is the main federal solar panel rebate scheme that most of us are very familiar with and that millions of australians have used to their advantage already.