REBATES - THE TERMINOLOGY EXPLAINED . . .

The Solar Credits scheme

The Solar Credits scheme has been introduced by the government as part of the revised RET (Renewable Energy Target). Solar Credits, also known as the REC multiplier allow 5 times the amount of RECs to be created for the first 1.5kW of eligible small generation units (small-scale solar PV, wind and hydro) for installations on or after 9 June 2009. For systems greater than 1.5kW, Solar Credits are applied to the first 1.5kW then 1:1 RECs are applied thereafter. Credits are not means tested, so anyone who meets the eligibility criteria can claim Solar Credits. The Solar Credit multiplier will decrease over time. The 5x multiplier will exist until 30 June 2012, and then it drops each year to 4x, then 3x, then 2x and ends in June 2015.

WHAT IS A REC?

A Renewable Energy Certificate is just like a share in a Company. The Government grants you a number of RECs for your solar installation as its way of thanking you for helping to tackle Climate Change. These RECs have a market value which fluctuates, if not daily, at least weekly. And you can decide to hold onto them as your rainy day fund or to sell them at the going rate.

If you choose to sell your RECs they will be purchased by industry and offset against their fossil fuel usage or carbon generation . . .

WHAT IS A 'FEED IN TARIFF'?

In Europe Electricity providers are forced, by law, to pay you substantially more per watt of Energy you create (or ‘feed in’ to the grid) , than they are allowed to charge you for your usage.

The Australian Renewable Energy Sector are lobbying for the same scheme in Australia.
So far the ACT has legislated a Feed-in Tariff of 3.88 times (gross) the chargeable rate for electricity usage, Queensland is 44 cents per Kilo Watt Hour (nett), South Australia is 44 cents per Kilo Watt Hour (nett), Victoria is 60 cents per Kilo Watt Hour (nett) but for a maximum size system of 2KW, we are still waiting for WA and NSW to commit . . . please lobby your local MP!

The more attractive solar becomes as a power generation option the cleaner and greener the future of this planet will be for our children . . .

GENERAL FACTS ABOUT SOLAR

Australia lags behind the rest of the world in its use of solar technology (ironic, isn’t it?!)

Germany is the world leader in solar technology and pioneering strategies for both personal and corporate power generation (they have had solar boats on the Rhine River for over 10 years)

Greece has just agreed to scrap any idea of a nuclear future, bin the fossil fuelled power industries, and commit to ONLY renewable power (amazing!)

There are whole cities in Spain powered by huge solar power stations

Solar is the simplest energy future for Australia - clean, green and abundantly available...