The Renewable Energy Target (RET) Scheme was created in an effort to reduce Australia’s reliance on non-renewable energy sources. To achieve this, the scheme promised to have 20% of Australia’s energy produced by renewable sources by 2020. As part of the program, to promote the installation of solar power in residential buildings, the government offered a rebate scheme of up to $8,000 through the Solar Homes and Communities Plan. However, this changed on June 8th, 2009 when the program was disbanded and the Small-scale Renewable Energy Scheme (SRES) was put in its place.
Under the SRES households across Australia that install a small scale solar system may be able to receive a benefit to help with the purchase cost. Sometimes referred to as a rebate program, installing an eligible system allows the creation of Small-scale Technology Certificates (STCs), an electronic form of currency with a value that can be redeemed by selling or assigning them. Incentives for PV installations are paid only if systems are installed to Australian standards and by industry accredited installers. Most households choose to assign their STCs to their installer for a discount on their system. Accredited installers such as Denby Electrical & Solar can be found on the Clean Energy Council website at www.solaraccreditation.com.au.
If the Government reduces the RET as predicted, the cost of renewable energy will rise significantly. Not only will this make it harder for homes and businesses across the Byron Shire to access the benefits of solar power, it will also slow down Australia’s solar power boom. This is why it is essential for you to take advantage of the current renewable energy discounts available now, invest in a quality solar system and start saving today.
Our team are experts when it comes to maximising your RET discounts. If you are ready to go solar but are concerned about the cost, don’t be. It’s much more affordable than you think. Once you receive your solar rebate, we can help you find a finance option which will work for you.