Australian Solar Panel Incentives In 2020 – What has changed?
While the New Year can bring new beginnings and fresh starts, it can also mean it’s time to tighten your finances and start to recoup your savings after the season of spending is finally over!
If this sounds like you then you may be starting to consider installing a solar panel system at your household to reduce your electricity bills through the power of the sun. And if you’ve started your research then you would have heard of the Solar Panel financial incentives which entitles Australian households to large subsidies towards the purchase and installation of a solar panel PV system.
Federal Government Solar incentives Overview and 2020 Changes
Some people believe that the Australian Government incentives ended in 2019. The is incorrect, the Australian government lowered the incentives in 2019 slightly, however the program will continue to exist until 2030. Each year the government will implement an annual reduction, and this is now a normal part of how the program works. This program is called the Small-Scale Technology Certificates (STCs)
The government incentives that you will be entitled to depends on two things. The size of your solar system and your location. Larger solar installations generally get more STCs, this is because they produce more electricity.
In addition, the above incentives, each state and territory may have separate additional incentives in place. These are determined by local governments and are applied independently from the national incentives program.
New South Wales incentives
The NSW Empowering Homes program offers loans of up to $14,000 for solar battery systems, and up to $9,000 for adding batteries to existing solar PV systems. The benefit is available for households with an income of up to $180,000 per year.Solar for Low Income Households is a program currently on trial, which will give 3-kW solar systems to 3000 homes in specific areas of NSW. The program is available for holders of a Pensioner Concession Card or a Department of Veterans’ Affairs Gold Card.
The QLD Solar for Rentals program offers incentives of up to $3,500 for landlords, if the installation is completed before June 30, 2020. However, this is a trial program with limited funding. The GLD government also offers interest-free loans for solar power and energy storage systems.
VIC offers a solar panel incentives of up to $1888, a solar battery rebate of up to $4838, and a solar hot water rebate of up to $1000. The benefit applies for households with an income below $180,000 per year, and an assessed property value below $3 million.The solar incentives can be combined with an interest-free loan up to $1888, which must be paid within four years. There are no equivalent loans for solar batteries and hot water systems.
Western Australia incentives
WA does not offer solar incentives and incentives, beyond the federal STC program.
South Australia incentives
SA offers an incentives of up to $6000 for energy storage, through the Home Battery Scheme. Low-interest loans are also available to complement the battery subsidy.
Northern Territory incentives
NT does not offer incentives, beyond the federal STC program.
TAS does not offer solar incentives, beyond the federal STC program.
Australian Capital Territory incentives
Are you Eligible for a Solar incentives in 2020?
The federal incentives for solar panels applies for all installations that meet the following conditions:
- The installation must be completed within the 12 months before the Small-scale Technology Certificates (STC) are created.
- Meeting Australia and New Zealand standards, and any local requirements that apply at the state, territory or municipal level.
- Using solar panels and inverters found on the Clean Energy Council list of approved components.
- The maximum installed capacity is 100 kW, and the annual production must be less than 250,000 kWh.
- The system must be installed by a Clean Energy Council accredited solar contractor.
These requirements apply for all solar power systems in Australia, regardless of their location. When additional incentives are available from the local government of a state or territory, these have their own requirements as well. For example, some are limited to certain cities, while others target households below a certain income threshold. The eligibility requirements are published on the official government site that covers each program.
Find out how much you are entitled to, contact us here for your free assessment.