Solar Panel Rebates – Your Energy Government Subsidies

Government Subsidies to make solar power systems more affordable

Solar panel rebates have been introduced to assist consumers with going greener. There are Government subsidies for businesses and homeowners who purchase and install solar power panels, but there is no guarantee that these subsidies available today will be around tomorrow. Generally the rebate for solar panels starts high and is reduced over time until they have served their purpose, i.e. insulation, solar hot water.

Up until August 2009, the Federal Government solar rebate was over $8,000. Now through the Renewable Energy Certificate (REC) program this rebate has already been reduced to approximately $6,000. This discount, that reduces the up-front cost of your system, is based on a market-traded rate for these RECs. This rebate fluctuates and as such so does the prices of solar systems.

The NSW Government’s 60c Gross Feed in Tariff (Gross FIT) will be reviewed once the total combined systems equates to 50MW. This 50MW target will be met soon, the first assessment by the state government is in July. This high rate of payment for your electricity is what pays the system off quickly for you!