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Over the past ten years, the cost of solar energy in Australia has increased. Hence, the state and territorial governments have provided solar rebates, subsidies, and incentives to combat the growing cost. Solar rebate was introduced for homeowners and companies to install solar photovoltaic (PV) systems. Australia’s state and territory governments will start providing financial assistance and incentives for solar energy as of 2023.
Victorian State solar incentives can pay up to 50% of the rooftop solar energy installation cost or up to $3,500. They also provide an interest-free borrowing alternative and the choice of a loan without interest. Even a simple solar system nowadays may cost up to $1,000. A rebate will assist in covering the high installation costs and motivate more consumers to adopt solar panels.
The Australian Federal Government offers Small-scale Technology Certificates as an incentive to encourage more Australians to install solar systems on their roofs by helping with part of the upfront costs. Australians who purchase solar systems are given a fixed amount of “STC certificates” by the Australian government. The solar installer can then exchange those for cash and offer a system discount upfront.
Rebates for solar panels are a great method to lower your power costs in Australia. Additionally, they provide a strong incentive to become green and protect the environment by using renewable energy sources. The Federal and State Governments have launched an “Australia Solar Rebate Scheme” to assist homes and businesses in lowering the cost of installing solar power systems at their premises to encourage Australians to go solar and take control of their energy expenses.
As of 2022, more than 3 million homes and businesses in Australia have solar panels installed, making it the world leader in solar panel installation and adoption. In the upcoming years, this number is anticipated to increase even more. It is understandable why so many Australians are switching to solar power as an energy source, given the potential to cut carbon emissions and save money on electricity bills. The availability of subsidies and incentives to help homes install solar power systems makes it even simpler to see why solar technology is gaining popularity.
The federal government has revealed that they want to offer a $1.3 billion package in 2023, including incentives for people to complete energy efficiency upgrades and “electrification” projects in their homes and small enterprises. The budget also included $314 million for a small business energy incentive to help these companies stop using gas, become more energy-efficient, and pay less for electricity.
Also Read: Top Trends in Solar Energy