What are the current solar rebates and incentives in QLD? Good question. The answer is not as clear as one might hope! Here’s the scoop as of March 2019. If you invested in a solar system today, you would be subsidised under a Federal Government Scheme to the tune of approx $630 per kW installed. This translates to the impressive sum of approx $3,150 off the cost of a standard 5kW solar system.
How quickly do we need to act on these incentives and opportunities?
Are solar rebates being phased out?
Ultimately yes, the solar rebate is to be phased out; but you don’t need to panic just yet. The current legislation states it is to reduce by one fifteenth each year as of Jan 2017 until it reaches $0 by 2032. It’s worth noting that mid last year the ACCC made a recommendation that the rebate should be scrapped entirely; the federal government have so far not acted upon this recommendation…but perhaps they will…
The non-rebate solar rebate
To keep things interesting the Government has decided the money given to people from the government to subsidise solar, should NOT be referred to as a rebate; but rather an STC (Small-scale Technology Certificate) Program. The current STC price is around $37 per STC, which roughly translates to (not a solar rebate) of $630 per installed kW. Is this figure fixed?…Of course not! That would be too simple.
The STC is a little like a solar certificate stock. The value fluctuates depending on supply and demand. When the solar world is booming – the STC price drops and visa versa. A few years ago when everyone was on an energy-crazed solar spending spree, the STC price was only $17.50, meaning a much lower (not a rebate) figure. It’s impossible to predict what the STC price will be in the future – unless that’s where you’re from; but considering it can’t go any higher than $40, $37 seems like a pretty good deal – Get a quote!
If trying to calculate what your (not a rebate) might be is hurting your brain, you’d be relieved to learn that almost all advertised solar system prices already have the (not a rebate) applied, and included in the pricing.
Are these incentives means tested?
Good news, no! Claiming criteria is as follows:
- PV System must be less than 100kW in size
- Must be designed and installed by a Clean Energy Council accredited Pro
- Solar panels and inverter must be Clean Energy Council approved for use
Proposed 2020 Federal Labour Home Battery Storage Subsidy
This subsidy will be determined by the election. Here are the proposed guidelines:
- $2,000 Rebate
- Capped at 100,000 households
- Household income must be under $180,000
- Not eligible to candidates who have already received a state funded solar battery subsidy
- Affordable finance options will be on offer to cover the battery system outstanding balance
Queensland Solar Interest-free Loans and Grants
Interest-free loans and grants are available for battery storage systems in Queensland. There are currently three packages available; but applicants may only apply for one interest free loan or grant option.
1) Loans for solar systems
Eligible households can apply for an interest-free loan of up to $4,500 for the purchase of a solar system to be repaid within seven years. The loan option is not available to businesses.
2) Loans and grants for battery systems
Eligible households and small businesses can apply for interest-free loans or grants for the purchase of a battery system. 3,200 assistance packages are available on a first come, first served basis. Households may apply for the grant and loan, or grant only. Small businesses may apply for the grant only. Grants of $3,000 and interest-free loans of up to $6,000 are on offer – loans must be repaid within 10 yrs.
3) Loans and grants for combined solar and battery systems
Eligible households and small businesses can apply for interest-free loans or grants for the purchase of a combined solar and battery storage system. 3,200 assistance packages are available on a first come, first served basis. Households may apply for the grant and loan, or grant only. Small businesses may apply for the grant only. Grants of $3,000 and interest-free loans of up to $10,000 are on offer – loans must be repaid within 10 yrs.
Check your solar grant or interest free loan eligibility and apply online on the QLD Government Website
Other finance options
If you find you’re not eligible for government funded solar assistance, don’t be disheartened, forward-thinking companies, such as ourselves, offer an array of pre-packaged finance options with dedicated third party lenders for your convenience.
Why put off your sustainable solar-powered future?
Electricity costs aren’t getting any lower! If you’ve been pondering the panels for a while, now is the time to take advantage of substantial federal non-rebates and state grant or loan offerings. Not only will you see incredible savings on your power costs, you’re adding immense value to your home or business. As these rebates and incentives will eventually be phased out, a house or business featuring an existing solar system is going to be even more hot property in the years ahead. Hervey Bay is the ultimate energetic climate for solar with glorious year round sunny days. Harness the energy, save money and do your bit for the environment. There’s nothing to lose.