Solar rebates are subsidies or financial incentives given by the Federal government to boost the solar power business of Australia. Government rebate solar Perth is in the form of STCs. The value of STCs is used to offset the upfront cost of solar system purchases.
The government creates virtual pieces of paper called Renewable Energy Certificates (REC). When one buys a solar power system, the government awards a certain number of REC. For every unit of renewable electricity generated, an equivalent number of RECs is produced.
The RECs that a residential solar system receive are called Small Scale Technology Certificates (STCs). These RECs can be traded with fossil fuel generators for cash. Each STC has a monetary value that fluctuates between $34 and $40.
Eligibility for claiming the solar rebate
To claim a solar rebate Perth, WA one has to be eligible for it. Eligibility for claiming the solar rebate changes from state to state. To qualify for solar rebate Perth, one need to own a small-scale renewable energy system such as a solar panel system or solar hot water system.
It has to be installed at an eligible premise like houses, townhouses, residential apartments or shops. The solar system must be a new and complete unit and there should not be more than one system at an eligible premise.
The electric solar system must have been installed no more than 12 months prior to the date of application for STCs.
While replacing an entire solar system, the new system is eligible for STCs. If one is replacing the panels alone, the system is not eligible for STCs for the new panels. It is because the panel or inverter has already been used to claim STCs for the same project.
There are 2 ways to claim the solar rebate in Perth – either through the solar installer/company or online with the REC.
Claiming the solar rebate through solar installer or company.
The easiest way to claim solar rebates in Perth WA is through the chosen solar installers or solar company. Some of them include the discounted solar rebate on the customer’s quote so that they have to pay less upfront. The company will later claim the rebate themselves.
One can claim the value of rebate through the Solar company’s Industry Portal. The rebate will be deducted from the customer’s payment through the Solar company’s Customer Portal. The company does its job in few steps:
They create a quote for customers. This quote is then uploaded to their portal for retailers. The customer will receive an email specifying whether their eligibility application is approved using the quote.
Once the customer is eligible, installers will schedule the job within 120 days of rebate approval. They will carry out the installation and receive the customer’s payment minus the value of their rebate.
The company will complete CES and submit a payment request for the value of the customer rebate through their Solar Portal.
The installers will review the payment claim within 5 business days and approve if no further information is required. The deposit of funds can be expected in the nominated bank account after 10 business days of the payment being approved.
Claiming the rebate online with REC
One can also claim the solar rebate without depending on the installers, though the whole process is a bit strenuous. One has to register and fill out the online application through the REC website.
Homeowners will then be given STCs which have to be registered and sold on the market. It can be sold through the open market with prices subject to change or through the STC clearing house at a fixed price.
When one is doing online, the easiest way is to have STC traders sell and register STCs for them. Either the owner can register and have the traders sell it for them, or even do all the process of registering and selling by themselves.
A specialist STC broker can help one to get through these procedures. STC traders offer help regarding STC registration and selling.
STC traders will buy unregistered STCs from homeowners for a price that is a little lower than the current STC spot price. They do so as they need to have some margin when they aggregate and sell the STCs themselves
They also help in online and paper submissions, built-in solar panel validation, payment for selling the client’s STCs to them within three business days payment after the audit. Some have their own STC assignment form template. Some of them even have online apps.
Government rebate solar Perth has played a crucial role in the solar boom of Australia.