Solar Incentives for New South Wales
New South Wales, unlike Victoria is not covered under a state level program. New South Wales Residents can gain the benefit of the Federal Solar Program, as follows.
The cost of a Solar Installation in New South Wales can vary between $3,000 – $8,000 with many variables involved, such as the area you live in, the house you have, your energy usage, amongst others.
NSW residents are eligible for two Solar Power incentives.
Small-Scale Technology Certificates (STC’s) and Feed-in Tariffs (FiTs.) These Incentives are designed to helped save over the life of your Solar System and encourage people to take up solar energy. . Now the differences and eligibility can vary.
Small-Scale Technology Certificates (STC’s)
Any renewable energy, including Solar, Wind, Hydro or other, the federal government provides STC’s relative to the energy output over the life of the generator. These certificates are generally sold for $28 each, serving as a form of rebate. This system rewards sunnier areas, with larger systems. The spot price for STC’s can be found here. STC’s will be sold once they are validated through the REC Registry and can be sold on the open market or the STC clearing house. While this can get complicated, a registered agent can organise the sale on your behalf.
How are STC’s calculated?
Looking for an estimate? Use this tool.
By far the most common question we get, the federal scheme is dropping by one fifteenth every year from Jan 2017 until it drops to zero in 2031. The value of this rebate can however change, as the price of STC’s varies.
Feed in Tariffs
Your electricity retailer will pay you with a small deduction on your bill for each (kWh) of electricity you provide back. This will be in the range of 10 cents per kW hour. Ask your energy company to find our what your rate could be or compare the rates using tools like this.
How much can incentives save you?
The amount that an incentive can save depends on the time of install, the price of STC’s, the system and many other variables. At the moment, the value of an STC is $39. But situations can arise where the value is pushed down. To check your post code, to understand how the incentive could impact you, or whether now is a good time to invest, contact Tesla Electrical & Solar directly for a free quote.