The Small-scale Renewable Energy Scheme encourages the purchase of small-scale solar panels, solar hot water heaters, heat pumps, wind, and hydro systems by offering a financial benefit to owners through the assignment and/or sale of STCs.
STCs
A STC is a Small-scale Technology Certificate, which is an electronic form of tradeable currency. When you install solar photovoltaic panels, a heat pump or a solar hot water system, you will generate power from a renewable source, entitling you to receive STCs.
A STC is generally equivalent to:
- 1MWh of renewable electricity deemed to be generated by small generation units such as photovoltaic panels (unless the Solar Credits REC multiplier applies); or
- 1MWh of electricity deemed to be displaced by the installation of a heat pump or solar hot water system.
* STCs were formally known as Renewable Energy Certificates (RECs). REC is now the umbrella term which covers Small-scale and Large-scale Certificates.
Read more at http://www.orer.gov.au
Solar Credits
Under the Solar Credits Scheme, each 1MWh of renewable energy that a grid connect system produces will automatically be multiplied by three (as at 1 July 2011), so that a solar power system owner can claim three times the number of RECs normally available. (However, you can only claim this for the first 1.5KW of capacity of system, the rest of the system capacity will earn the usual amount of RECs).
The new Solar Credits Scheme applies to off grid and grid connect solar power installations. Any extra power that you generate can be sold to the power companies for a guaranteed profit, making solar power an affordable and attractive energy source.
Each year, the Solar Credits mulitplier will be reduced, until the multiplier is phased out by 1 July 2013.
Read more at http://www.orer.gov.au
Feed In Tariffs
A Feed In Tariff is a premium paid for electricity that is fed back into the electricity grid from a renewable electricity generation unit, such as photovoltaic panels.
If your solar panels generate more electricity than the household is using, your energy provider will give you 50 cents/kWh (of which 44 cents/kWh is guaranteed by the government).
The more energy efficient your house is, the greater the reward.
Read more at http://www.cleanenergy.qld.gov.au/solar_bonus_scheme.cfm
Further Information
For more details on solar rebates, contact CB Solar on 07 5552 5222 or sales@cbsolar.com.au.
* This information is a guide only and is correct at the time of publishing.
