Solar Panel Rebate NSW 2024- Everything You Need To Know

Australians who are considering installing solar panels In their home may be eligible for solar panel rebates in NSW. Rebates are available through state and federal government schemes, and can reduce the cost of installing a solar system by thousands of dollars. Read on to learn more about the different rebate panel rebates and schemes available, and how to apply for them.

Costs of Solar Panels in NSW 

As a New South Wales buyer, installation costs are a key consideration. Installation costs for a solar panel are influenced by the system’s size and the method used in the installation. Looking at 3 types of solar panels, we have the following averaged costs of installations: 

Solar Panels Installation Costs based on size

Thanks to the discounts from Small-scale Technology Certificates (STCs) and the Goods and Services Tax (GST), the cost of solar panel installation in NSW is not only affordable but also offers significant financial benefits. It’s below the national average, making it a smart choice for residents in the state. 

What Are Solar Rebates?

The federal government, through a program called the Small-Scale Renewable Energy Scheme (SRES), offers loans and other financial conveniences to eligible house-owners in approved local government areas to install renewable energy systems such as rooftop solar, solar water heaters, and heat pumps.

Instead of the traditional systems, solar hot water systems make use of the sun to generate power to heat water. The installment is to be done by an approved dealer, who must have earlier given a quotation to the house-owner.

Contact us, and our solar installation experts will guide you through the process of applying for solar rebates in NSW. Contact Us or Call Now

The process comes with some discount that ranges from 20 to 33% for the house owners through STC’s; though this depends on the size of the panel, location, agreed price, and market conditions.

If you are living in NSW and you’re looking to install a solar systems in your home or business, then you’ll be happy to know that there are a number of solar panel rebates NSW to help reduce the cost of your solar panel installation.

In this article, we will discuss what kind of solar rebates are available in NSW, who is eligible for them, and how they can help reduce your energy bills. But before we start with the NSW solar rebates, Let’s look into a few things you need to consider before investing in solar panels.

• Do you have proper access to sunlight?
• Are you planning to sell or lease your home?
• Do you know a reputed and licensed solar installer?
• Are you aware of the size of solar panel you need?
• Is your roof suitable for rooftop solar panels?
• Are you aware of the upfront cost?

An Insight into The Solar Panel Rebate NSW

The NSW Solar Rebates is an excellent way for households to save on energy costs. The rebate provides all households with a rebate on solar PV systems of any size.

This system can end up saving households up to $600 per year, as stated by the NSW government. To be eligible must not have installed a solar PV system within the past 12 months.

New South Wales provides residents with various options in rebates and incentive programs as long as they contribute to the renewable energy goals. Households in the state benefit from the reduced initial installation costs if they are eligible for these rebates and incentives. 

Feed-in Tariffs (FiTs):

Solar feed-in tariffs are credits given by an electricity supplier for any excess solar energy that a solar panel feeds back into the grid. Feed-in tariff rates also vary within New South Wales, ranging from $0.00 to $0.22 per kWh. Our recommendation for homeowners is that buyers compare the FiTs offered by different retailers to allow maximum savings. 

Small-scale Technology Certificates (STCs).

When it comes to STCs, a government initiative program, users are eligible for upfront discounts on solar system costs based on the expected energy output over the system’s life. The STC amount is based on three factors: the size of the system, the ratings of the solar zone, and the duration of the solar system’s use. A larger portion of NSW falls under STC zone 3; hence, most owners receive around $43 per STC.

Low-Income Household rebate.

As its name suggests, the low-income household rebate focuses on reducing energy costs for eligible low-income householders. Householders receive the rebate as a credit on each quarterly energy bill, saving them financial costs while installing or upgrading solar systems. 

Additional Incentives and Programs

There are other programs in addition to the primary rebates and incentives available. We were able to narrow down to the following as considerable options: 

• Solar Battery Incentives: Every homeowner can receive this incentive benefit if they install a solar system with battery storage. The STC discounts are still offered despite the end of the interest-free loan program for solar batteries. 
• Energy Saving Scheme: To achieve environmentally friendly energy solutions, this scheme rewards homeowners switching to solar hot water systems or heat pump hot water systems with rebates. This is a cheaper deal than the counterparts, such as electric and gas hot water systems.

How much is the NSW solar panel rebate NSW?

The solar panel rebates provide all households with a heavily subsidized solar PV system.

The bar graph above shows “GOVERNMENT REBATES by System Size”. The graph displays government rebates for different solar system sizes, ranging from 1.5kW to 6kW.

Here are the rebate amounts for each system size:

1. 1.5kW system: $866
2. 2kW system: $1,182
3. 3kW system: $1,773
4. 4kW system: $2,401
5. 5kW system: $2,994
6. 6kW system: $3,585

The graph demonstrates that as the system size increases, the government rebate amount also increases. The smallest rebate is $866 for a 1.5kW system, while the largest rebate is $3,585 for a 6kW system. The rebate amounts appear to increase roughly proportionally with the system size.

What is an STC rebate?

The Solar Rebate, also known as the Small-scale Technology Certificates (STCs) is a government initiative to promote the use of natural and sustainable energy sources.

The scheme offers a financial incentive for small businesses and households to install solar panels.

The Solar Rebate was introduced as part of the Australian Government’s Renewable Energy Target, which aims to reduce greenhouse gas emissions.

The Solar Rebate has created a market for solar power systems, making it more affordable for Australians to switch to eco-friendly energy.

How To Calculate STC

Calculating the number of STCs you are entitled to and your solar rebate is relatively easy.

kW solar panels x 11 (11-year deeming period) x zone rating (above table 1.2) x Spot STC price

Example: Ana lives in Chester Hill 2162 NSW and wants to install a 6kw system.

Calculation: 6 x 11 x 1.382 = 74 STC

74 x $38.50 = $2,849 rebate.

How do I claim my STC rebate in NSW?

Procedure for Solar Rebates and Incentives Claim in NSW

Even though these rebates and incentives are available, the residents should understand how to claim them. Therefore, follow these steps as a guide: 

1. Choose a Solar System approved by the Clean Energy Council. When checking for accreditation, always remember to select a solar system and an inverter on the CEC list.
2. As you get to installation, always prioritize an approved installer. The Clean Energy Council accredits solar panel installation companies, and once this is done, households can check the installer’s credentials via the CEC’s search tool. 
3. Now, calculate the STCs to receive. There is a straightforward formula for this.

kW solar panels x (11-year deeming period) x zone rating x Spot STC price.

However, we recommend that you visit the Clean Energy Regulator’s STC system to get an idea of the number of certificates you can claim for your solar system. 

1. Proceed to compliance paperwork. For this case, you must ensure that all documentation is signed by the involved parties (installer, designer and owner) and then submitted with the rebate requirements. The verification and certificate creation should be done within 12 months of installation dates. Visit REC Registry accounts for more details. 
2. Sell your STCs: You’ll now be required to sell your STCs either on the open market or by including them in the STC clearing house queue for sale. After selling, you will be able to offset some of the installation cost, just as if it were a rebate.

A comparison of the solar providers and plans

Your solar provider will determine the rate you can save on costs. Therefore, the following tips will allow you to establish a better comparison of the providers available to you: 

The STC program: making solar cheaper

It incentivises businesses to invest in small-scale energy projects and generate jobs. The program is also aimed at encouraging Australian households to adopt energy-efficient technologies such as solar panels.

What’s going on? Some of you might be familiar with small technology certificates or SSCs. Think of these certificates as rebates to help offset the cost of your solar panels.

The number of STCs you receive depends upon the amount of energy the solar panel system produces over its lifecycle. It also differs depending on system size and where you live.

Solar Rebate phase-out

The SOLAR REBATE PHASE OUT graph above depicts the declining value of solar rebates in Australia from 2016 to 2030.

The graph uses green bars to represent the rebate amount for each year, with the y-axis showing rebate values from $0 to $4,500 in $500 increments.

The rebate values for each year, as shown in the graph, are approximately:

2016: $3,900
2017: $3,600
2018: $3,350
2019: $3,100
2020: $2,800
2021: $2,550
2022: $2,300
2023: $2,000
2024: $1,750
2025: $1,500
2026: $1,200
2027: $900
2028: $650
2029: $350
2030: $100

The graph clearly illustrates a steady decrease in solar rebates over time, with the highest rebate offered in 2016 and the lowest in 2030.

On the right side of the graph, there’s an illustration of a house with solar panels on the roof, surrounded by other renewable energy elements like wind turbines and a smiling sun, representing the concept of solar energy adoption in residential settings.

Australian government Solar panel rebate schemes are meant to help with installation.

Tell me about the solar rebate in 2024.

Depending on whether the solar module has an installed power source in NSW, the costs range from $6.10 for a watt. This is much lower than 13c/kWh predicted. In some circumstances, your house can cost between five cents to 10 cents per Kilowatt or hour.

The subsidy will vary by house size, property location and types of renewable electricity systems installed. Home solar incentives will be calculated using shared scales.

This is based on the amount that your household generates using energy that is renewable, and how many battery-powered devices you use.

What solar rebates can NSW residents get?

The NSW Government has outlined a plan for net-zero emissions from 2020 to 2030 and a plan to create a net-zero emissions target.

This is a foundational measure to combat climate change in NSW. Installing PV batteries in the home will help them meet the goal, so there’s a variety of funding incentives available.

2024 is the right time to invest in solar energy. The various rebates, schemes, and loan options available will allow you to reduce the costs of your installations dramatically.

The Rebate Scheme: This is the primary rebate offered by the NSW Government.

The scheme provides a point of sale discount on the cost of solar PV systems. Regarding subsidies, you can expect to receive a discount between $2000 to $7000 on the upfront cost of your solar panels. The upfront cost of your solar panels will increase by 4-5% yearly.

The following government solar rebates and incentives are available in New South Wales (NSW), with more information on claiming them below:

• Small-scale Technology Certificates (STCs)
• Feed-in Tariff (FiT)
• Empowering Homes – Solar Battery Loan Program
• Solar For Low-Income Households

How do I claim government solar panel rebates in NSW?

You must decide which state of your rebate you reside in when claiming a solar rebate.

If you do it yourself you need to apply at the appropriate government office for this service. All residents of NSW can apply for a rebate, but some eligibility conditions need to be met.

How much power do solar panels use to generate electricity? The investment in batteries is crucial in determining the eligibility for solar credits.

Contact us, and our solar installation experts will guide you through the process of applying for solar rebates in NSW. Contact Us or Call Now

How much is the rebate on a 10KW solar power system?

The rebate on the 10KW system in NSW costs $4774 according to the STC value of the NSW scheme. This rebate is calculated on the basis that the solar installation is deemed to be valid for a period between 11 and 38.60.

For an exact figure as of now, you should talk to a company that you prefer.

Calculating the STCs for a 10 KW solar power plant will help to calculate its energy cost by using this formula: nominal solar wattage. When installing 10K W solar systems, you might need an upgrade.

How do I apply for a government solar rebate?

It is possible to obtain renewable energy rebates from the government through the Internet by submitting an online form.

The second method that is preferred by most people entails giving the right to obtain an STC to your solar company. The buyer can then calculate the discount on the sale price.

Two ways solar panels can be installed are: state rebate schemes like the Renewable Power System rebate, an application process for these rebates can be found on the NSW Energy website.

To be eligible, the following criteria must be met

• Currently receiving the low-income household rebate
• Agree not to receive the rebate for ten years
• Hold a valid Pensioner Concession Card or Department of Veterans’ Affairs Gold Card
• Own your house
• Not already have a solar system
• Live in one of the following regions:
• Central Coast-North Coast-Sydney – South-Illawarra – Shoalhaven-South Coast

Is solar panel rebate reducing?

The solar rebate in NSW is unlikely to increase from the current policy. The grant is now a minimum of $385 – $375 for each kW.

This rebate will decrease from 2023 to 26 years. In 2021 this rebate will be reduced from $320 to $420 for 6.6kW systems. Solar rebate is now available in NSW. The less money you receive for postponements the less money will be available.

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