Solar Panel Installations – Sunshine Coast
For anyone considering the installation solar panels – please be advised that you now need to take into account yet another change to the Solar Credits Scheme.
The Minister for Climate Change and Energy Efficiency, the Hon Greg Combet MP announced on 16 November 2012, that the Federal Government will reduce the Solar Credits mechanism six months ahead of schedule on 1 January 2013 instead of 30 June 2013 as previously advised. Effectively the “multiplier” for solar credits is being reduced from 2 to 1 for systems greater than 1.5kW.
What does the change to the STC multiplier mean?
For a solar panel installation in Brisbane the number of STC’s per installation prior to the announcement (based on the system size) was based on a multiplier of 2;
1.5kW – 62 STCs available
3kW – 93 STCs available
5kW – 134 STCs available
The announcement now means that the multiplier will not be in effect and the solar credit will be lower for systems greater than 1.5kWs.
The trade value of STCs is multipled by the number of eligible solar credits to determine the reduction in the price of your solar panel installation.
For example, the trade rate of $25 per STC x 93 STCs (for a 3kW system) means that you would receive a reduction in the price of your solar panel system of $2325. From 1 January 2013 this value will now be reduced making the installation price potentially higher. We estimate this to be fro $700.
Your solar panel system must be installed and all appropriate paperwork submitted by 31 December 2012 to ensure that you receive a STC multiplier of 2.
What to do now?
Give Nashcom Electrical a call to discuss your solar panel installation requirements and ask us any questions you may have.
We are able to provide you with the facts and point you in the right direction.