Setting up a solar power system can be expensive. This is even more so when you invest in solar battery storage so that you can store all the excess energy you generate during the day so you have a ready supply for the night and for grid outages. To encourage and support residents and businesses in the quest to use solar energy, the government has come up with great rebate programs, subsidies, and grants.
Without any assistance, you are looking at about 4 to 5 years before you can breakeven or recoup your investment. However, government programs have been designed to make things easier on your pocket.
The good news is, when you purchase solar battery storage, the dealership or seller will show you right from the onset, which solar battery rebate, subsidies, and grants you qualify for. How easy is that!
Loans and Grants
- Loans and Grants for Solar Battery Storage Only. Residents and small businesses are allowed to apply for interest-free loans or grants so they can purchase a solar battery system without worrying about additional fees and interest charges. A solar power system does not necessarily require a battery storage system, so to encourage residents and small businesses to invest in one, interest-free loans and grants are being offered by the government. Having a solar battery storage system means each user is able to store the excess energy generated during the day so they can consume it when there is no sun, at night time, or during emergencies. This way, people and businesses will depend less and less on fossil fuel and coal-generated sources of energy.Grants of $3,000 and interest-free loans of up to $6,000 that is payable for up to 10 years are available. Households are free to apply for both the grant and the loan while small businesses are only allowed to apply for the grant.
- Loans and Grants for Both Solar Panels and Solar Battery Storage. Households and small businesses are allowed to apply for interest-free loans and grants to purchase both the solar panels and solar battery storage. A grant of $3,000 and an interest-free loan of up to $ 10,000 is available. Only households are allowed to apply for both programs while small business is limited to apply for the grant only.
National Subsidy – Solar Credits
There is no direct national incentive or battery rebate for adding solar battery storage to a new or existing solar power system. However, the Solar Credits Subsidy applies when purchasing a solar and energy storage solution. This subsidy program can significantly reduce the cost of the whole system.
Australia has a Renewable Energy Target and the Solar Credits Subsidy is part of the program. Through this, every megawatt-hour of qualified energy generated is eligible for Renewable Energy Certificates or RECs. RECs comes in two forms – Large-scale Technology Certificates (LTCs) and Small-scale Technology Certificates (STCs).
Small-scale technology certificates (STC) are the ones used to apply for households or residential solar installations including the solar battery storage systems. This is used much like a discount voucher on the cost of installing the whole solar power system.
National Tax Breaks for Small Businesses
All small businesses can claim a 100% tax deduction for the same fiscal year they have purchased the solar battery storage system.
Are you interested in purchasing solar battery storage for your current solar power system? Or are you looking to buy a whole new system – solar plus battery storage, but not sure what to do and how to apply for the government discounts, government solar battery rebate, and other programs? If so, GCR Electrical Systems is here to help.
We can provide a free in-home energy assessment and discuss with you the programs that are available to you so you can apply for the rebates, loans, grants, and subsidies the government has to offer.
All our solar installers are certified and accredited by the Clean Energy Council assuring you that each electrician we send you is certified and trained to meet the industry’s best practices and up to all relevant Australian Standards.
Start saving on your electricity today! Please call us on 07 4194 2753 so we can get your solar panels and battery storage installed and help you on your way to being self-sufficient while reducing your carbon footprint. Your pockets and mother nature will love you for it!