Australians who are thinking about installing solar panels in their house may be entitled to government incentives. Rebates are available through state and federal government programs. These can help Australian homeowners save thousands of dollars on the cost of installing a solar system.
When you purchase solar panels in New South Wales (NSW), you will be eligible for the Australian government’s solar rebate NSW, which may reduce the cost of your solar system considerably.
How Does Solar Rebate Work?
In July 2018, the New South Wales Solar Panel Rebate Program was introduced to reduce the cost of solar panels for houses. This legislation encourages the installation of solar panels on residences in all states. The Solar Rebate NSW program was created by Environment Australia and the NSW government to encourage the use of renewable energy.
The program offers households up to $7000 refunds or a loan for solar panels for the installation of solar panels system. Anybody who lives or leases in New South Wales is eligible for the solar rebate incentives scheme. The initiative requires households to have a solar panel system installed by a professional.
In 2023, the NSW government introduced the Solar Homes Program to help households install solar panels by offering rebates and interest-free loans. This initiative aims to add 2.6 GW of solar capacity across the state, lowering electricity bills for thousands of households and reducing carbon emissions.
Eligible households can get a rebate of up to $3,000 for installing a solar panel system with a capacity of up to 10 kilowatts. Additionally, low-income households may qualify for interest-free loans to cover the initial costs of installing solar panels in NSW.
How do I apply for the NSW solar rebate?
Step 1: First, check the NSW government’s website to see if you are eligible.
Step 2: If you are eligible, choose a Clean Energy Council (CEC) accredited solar retailer in NSW.
Step 3: Get a quote from the retailer for a solar system that meets the rebate requirements.
Step 4: If you are happy with the quote, go ahead and sign a contract with the retailer to install the system.
Step 5: The retailer will then apply for the rebate for you through the NSW government’s online portal.
Step 6: Once the rebate application is approved, the retailer will deduct the rebate amount from the total cost of the solar system.
Step 7: You will then need to pay the remaining cost to the retailer.
Step 8: After you make the payment, the retailer will install the solar system and provide you with all the necessary documents and warranties.
Change in the NSW Solar Rebates Incentives Every year
The NSW Government has announced a strategy for net-zero emissions from 2050. As well as, a strategy for developing a net-zero emissions goal. This is a critical first step in combating climate change in NSW.
The solar rebate incentives in NSW are reduced every year on January 1st, which you will come across while researching solar rebates. This revision is part of the phase-out scheme, which aims to reduce the rebate to zero by 2031. Hence, if you want to apply for a solar rebate in 2024 after January 1st, you must be aware that the solar rebate in NSW will be lower than it was last year. In terms of subsidies, you may expect to receive a rebate ranging from $2000 to $7000 on the initial cost of the solar panels in 2024. The initial cost of your solar panels increases by 4-5% every year.
Solar Rebate Phase Out
As the rebate decreases by 4-5% each year, homeowners should act quickly to maximize savings. In 2024, the rebates range from $2000 to $7000, depending on the size and cost of your system.
How Much is the NSW Solar Panel Rebate 2024
The NSW Solar Panel Rebate provides financial support for installing solar panels in New South Wales. The reabet is mainly calculated through the STC (Small-scale Technology Certificates) scheme, and the value of your rebate depends on the size of your solar system and its location. The number of STCs assigned to a system is influenced by factors like system size and sunlight exposure (which is divided by zone).
Here’s an approximate estimate of the STC rebates for various solar system sizes in NSW based on current market trends (assuming an STC value of $35):
1. 1.5kW System: $990 – $1050 (28-30 STCs)
2. 2kW System: $1320 – $1400 (38-40 STCs)
3. 3kW System: $190 – $2100 (58-60 STCs)
4. 4kW System: $2640 – $2800 (78-80 STCs)
5. 5kW System: $3300 – $3500 (98-100 STCs)
6. 6.6kW System: $4356 – $4620 (129-132 STCs)
7. 10kW System: $6600 – $7000 (198-200 STCs)
8. 10.56kW System: $6969 – $7392 (209-212 STCs)
9. 13.2kW System: $8712 – $9240 (261-264 STCs)
These values are indicative and can fluctuate based on the STC market rate, which ranges between $35 and $40. It’s also important to note that solar rebates decreases over time as the scheme gradually phase out.
Consult with Isolux solar to get the accurate rebate estimate based on the latest STC rates.
Solar Battery Rebate Incentives Starting from November 2024
Starting from November 1, 2024, NSW Government Solar Battery Rebate offer incentives between $1,600 and $2,400 to eligible households and businesses can benefit from new solar battery rebates designed to reduce the upfront costs of battery installation. Get an additional incentive ranging from $250 to $400 for connecting your battery to a Virtual Power Plant (VPP). This incentive can be claimed twice, with a minimum gap of 3 years.
Benefits of adding a battery system:
- Maximizing solar power usage during non-sunlight hours
- Additional savings from feeding excess energy back into the grid
- The potential to participate in VPP schemes, further reducing electricity costs
For those without solar panel system, the incentive can be factored into the quote when installing a new solar and battery system.
Why Should You Go for Solar Power and Solar Rebate NSW?
Here are the top reasons why you should go solar and opt for the solar rebate.
1. After installing solar, you will see significant cost savings on your energy expenses.
2. You will be less exposed to a power outage as the dependency on power grids will be less.
3. You will no longer be vulnerable to abrupt increases in your energy expenses.
4. By converting to solar, you help to preserve the environment by cutting greenhouse gas emissions.
5. Installing solar panels on your home will dramatically raise the value of your property.
Solar power is often an attractive choice for the people of New South Wales. With high power costs, long daylight hours, solar rebates incentives NSW. It is conceivable to recoup the cost of a solar panel system in five years.
Now that you know how solar rebates work, it is the best time to take advantage of the solar rebate and maximise the government’s offer. If you’re thinking about making changes to your energy use, the solar rebate can help you become less susceptible to fluctuating energy prices.
Get a free quote from Isolux Solar for solar rebate incentives, solar panel installation, solar inverter, and solar battery.
