Transitioning to Solar Power in the ACT

Transitioning to solar power in ACT is a smart decision that not only helps you save money but also reduces emissions. The average quality solar system pays for itself within four years. The exact payback period depends on your energy consumption, peak sunlight hours, and the size of your solar panel.

Small-scale technology certificates

Small-scale technology certificates (STCs) are tradable credits that can be created by homeowners and businesses who invest in renewable energy systems. These are an important part of Australia’s efforts to encourage solar energy adoption and reduce emissions. They help reduce up-front costs and accelerate payback periods.

STCs are based on the amount of electricity that a renewable energy system is expected to generate over its lifetime. Generally, larger systems create more STCs than smaller ones. STCs are also determined by location and installation date. Australia is divided into zones, and each zone has different ratings and multipliers based on sunlight exposure.

The STC rebate scheme offers significant up-front discounts on the cost of a solar power system in Canberra. The rebate is passed through the company that sells your system and incorporated into the purchase price of your system. It can save you up to $2,287. However, you need to understand the STC scheme and what it entails before making your decision.

Feed-in tariffs

The ACT has one of the best climates for solar energy, and with solar panels on your roof, you can save thousands each year by reducing your electricity bills. You can even earn extra income by selling surplus energy back to the grid. Energy retailers in the ACT offer feed-in tariffs that range from 6c to 10c per kilowatt hour exported.

These feed-in tariff rates depend on your electricity consumption and the size of your system. It’s essential to choose a power plan that offers a balance between high feed-in tariffs and low daily charges.

The average Canberra household consumes around 6.6 kW of energy each day. A 6.6kW solar power system can generate enough energy for self-consumption and export surplus to the grid. The resulting savings can reduce your utility bills by thousands each year and provide a quick payback period. With a smart battery, you can increase your savings even further. The ACT has an excellent climate for solar panels and is home to more than 39,000 residents with rooftop solar installations.

Credits for excess solar energy

Solar power is a smart investment, with many ACT residents opting to take advantage of government rebates. These programs offer a variety of incentives that make it possible to produce enough energy for self-consumption and feed excess into the grid. However, it’s important to note that a high feed-in tariff can expire after a few years. So, it’s best to choose a long-term energy provider that offers a great FIT rate.

Federal solar rebates can significantly lower upfront costs, allowing homeowners to achieve a fast return on investment. These discounts are provided in the form of Small-scale Technology Certificates (STCs), which utility companies and other liable entities are required to purchase under Australia’s national renewable energy target.

These incentives can also help homeowners reduce their energy costs by generating more than they consume in summer and spring. This can help offset higher electricity costs during winter, when the solar system will not produce as much energy.

Government incentives

Several government incentives have helped reduce the upfront cost of solar and battery systems. These include federal and ACT rebates, the Sustainable Household Scheme, and next-gen energy storage programs. These incentives can help households save money and reduce their carbon footprint, fostering environmental sustainability. In addition, they can increase home values.

ACT residents are eligible for the Home Energy Support Rebate, which can provide up to $2,500 for the installation of a solar system, hot water heater, reverse cycle air conditioning unit, or ceiling insulation. In addition, ACT residents can apply for the Sustainable Household Scheme to receive interest-free loans of up to $15,000 for the installation of energy-efficient products.

The Australian and ACT governments are co-funding shared solar on apartments through the $3.6 million Solar for Apartments Program, which will benefit more than 2,100 apartment residents. This will help reduce electricity bills for apartment tenants by up to 35%. Body corporates can also apply for up to $100,000, half of which will be provided as a grant and the other as an interest-free loan.

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