Is there a financial incentive for installing solar power?

Absolutely. A new generous rebate system has been introduced called the Solar Credits Program, which will assist in the upfront costs of installing a solar electricity system.

This rebate is not means tested, which means that everyone is eligible!

The Solar Credits program is based on Renewable Energy Certificates (REC’s), which are allocated to households and businesses installing renewable energy. They are a kind of carbon credit you receive for being a green energy producer.

The REC’s system has been around for a few years now, but under the new Solar Credits program the Federal Government has stated that people will now receive five times as many RECs than they used to (for the firs t 1.5 kW they install). For any excess above 1.5 kW you will get the old RECs amount, as well as the five times amount on the firs t 1.5 kW .

What this means is that at the current RECs value you may receive around $3500 in RECs back for a 1.5 kW system.

When combined with the new Feed-in tariff (see below), installing Solar has never been more rewarding!