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The Victorian state government is helping make solar panels more affordable for homeowners. You may be eligible to claim up to $1400 off the cost of your solar system.
You may also be eligible for an interest free loan of the approved rebate value. This can help any homeowners who don’t have the cash upfront, but want to take control of their energy bills.
This is made to be a stress-free solar rebate. Installers have the power to claim the rebates on your behalf, meaning we can deduct the cost from our quotes. This makes your lives easier.
(Homeowners who installed a solar panel system before November 2009 are eligible to replace or expand your system with rebates)
The federal solar panel rebate consists of giving homeowners who have installed solar small-scale technology certificates.
You can later sell these certificates for money, or let your solar installer claim them for you. This means they can deduct the price of STC’s from your quote, making solar even more affordable for you.
The value of an STC is always fluctuating. On average you can sell 1 STC for around $30-40 depending on your solar installers rates.
STC’s change in value and quantity based on your location, the date of installation and the size of your solar system.
On average in Victoria, a 6.6kW system will give you around 87-90 certificates (again this really depends on location, size and dates – it can vary a lot!)
Solar is becoming more and more affordable every year. What’s even more great, is that you can claim both the Victorian solar panel rebate and the federal solar rebate together.
If you are getting a 4-5kW system and claiming both the Vic rebate and the federal rebate, you can look at around $3,000 for the cost of your system.
These are rough estimates, as it will depend on what type of solar panels, cost of installation and size of system for STC’s. It could be more, it could be less but feel free to get a quote to find out.
You will only be able to claim the Solar Victoria rebate once though. Whereas the federal rebate can be any many times you want as long as they are different properties.
They are increasing the instant asset write-off to $150,000 and changing the turnover threshold to use the write-off concession to $500 million.
Small and medium businesses have more incentives to own solar systems up to $150,000 and can have instant write-offs. This will not only help reduce their electricity bills but also improve cash flow.
Any assets acquired from 12th March 2020 until 30th June 2020.
Annual turnover up to – $500 Million.
100kw system it costs $100,000 which is less than $150,000, and for business (revenue in this financial year < $500 millon) who wants to install solar but hesitant due to COVID 19, can now be more confident to say yes to install the 100kw system and have all this $100,000 to be written off.
Government accelerated depreciation deductions for new eligible depreciation assets (50% deduction in the first year).
Medium and large businesses have more incentives to own large solar systems and can have instant 50% deductions.
Assets acquired from 12th March 2020 until 30th June 2020.
Annual turnover up to – $500 Million.
For a 200kw system or more it costs around $150,000 and/or for business (revenue in this financial year > $500 million) who wants to install solar but hesitant due to virus impact, they can now be more confident to say yes to install this 200kw or more, and have 50% of this system value written of in 1 year.
Business owners will have a choice of Renewable Energy Certificates depending on the size of the solar system you install at your business property.
The number of technology certificates are getting smaller each year, with the governments aims to stop altogether by 2030. It’s makes the most sense to take action now whilst you can.