What financial assistance is available?
When it comes to reducing the cost of your solar installation, you can take advantage of ‘Small-scale Technology Certificates’ (STCs).
‘Small-scale Technology Certificates’ (also called ‘solar credits’)
When installing solar PV, the main financial incentive is the federal government’s ‘Small-scale Technology Certificates’ (STCs). They reduce the cost of solar PV systems by around 20–30% and are available for systems up to 100kW.
Most companies that sell solar PV systems include this government financial incentive in their pricing. As they handle all the paperwork, this makes it easier for you to get the benefit of cheaper solar power.
With your solar PV system you can be paid an export price where you receive income for your excess solar energy. These offers are usually available through your electricity retailer. Before you proceed, call up your local electricity retailers to see how much they’re prepared to offer for your excess solar energy.
If you want to check out the solar offers that are available from electricity retailers, you can also visit the government’s Energy Made Easy comparison website at EnergyCut.info/eme-solar-offers
Both of these incentives make solar power more affordable. They will also save your business money, both now and into the future.
When you buy a solar PV system, you can expect a payback period of 5-7 years. As the panels should last for 25 years, when your payback period is over they should continue reducing your power bills for another 18-20 years.
- 1. Source: Solar Business Services
- 2. ROI depends on the solar-set-up installed and the cost of your electricity supply.