Solar Credits scheme –
Discounts off solar available to EVERYONE!

The Solar Credits scheme provides the opportunity for everyone to be eligible for generous subsidies on the price of their grid connected solar power system.

The scheme is not means tested and is available to everyone regardless of your household income, and is open to communities, commercial businesses, rental properties or holiday homes.

What is the Solar Credits scheme
The Solar Credits scheme is a subsidy system that reduces the upfront costs of installing grid connected solar power systems. The scheme replaced the Solar Homes and Communities Plan (SHCP) on Wednesday 10th June 2009. View the media release.

How does it work?
The scheme provides a discount to you through assigning the RECs associated with the system to Beacon Solar. A REC is a Renewable Energy Certificate and works in the same way as a share certificate, representing a specific unit of value. It can be traded for cash and its value fluctuates depending on market conditions. Beacon Solar will effectively buy your RECs to help further discount the cost of your system by the total REC value.

The scheme multiplies the value of the RECs by 5, up to a 1.5kW system. Anything above the 1.5kW will be valued at a 1:1 ratio. RECs that were previously worth approximately $50 x 15 years = $750 for a 1kW system. RECs can now be worth anywhere from $5,852 in Zone 4 to $8,008 in Zone 1 for a 1.5kW system.*

The Solar Credits scheme will multiply the REC value by 5 from 2009 until June 30th 2012. From July 2012 the multiplier effect gradually decreases to;
          2012 – 2013          Multiplies by 4
          2013 – 2014          Multiplies by 3
          2014 – 2015          Multiplies by 2
          From July 2015 there will be no multiplier

Australia is divided into various zones based on each area’s climate, with every zone having a REC value assigned to them. The value of the zone’s REC will determine what REC discount you will receive off the price of the system. Areas such as Northern and Central Australia are generally sunnier climates therefore allocated to Zone 1, whereas capital cities such as Sydney, Brisbane, Adelaide and Perth are allocated to Zones 3, and Melbourne and Hobart are allocated to Zone 4 due to their cooler climates. This system aims to recognize locations that provide great sunlight, therefore greater green energy capacity.

You can use the REC Rating Zone chart to determine which zone your home falls into. Once you have found your postcode’s REC zone, you can see what REC subsidy you will receive for any size system - 1kW, 1.5kW, 2kW or larger.

How does the Solar Credits scheme compare to the old Solar Homes and Communities Plan (SHCP) rebate?
The Solar Credits scheme opens up the discount to everyone! Previously under the old SHCP scheme households with combined income above $100,000 could not receive the $8,000 rebate. With Solar Credits there is no means test, which means everyone can receive the discount! The scheme is also available to communities, businesses, rental properties, holiday homes or commercial premises – which were excluded under the old SHCP scheme.

Not only can you receive generous subsidies under the new Solar Credits scheme, you may also be eligible for further savings under your states Feed-in-Tariffs scheme.

*RECs subject to fluctuating market conditions.

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