The Solar Panel Rebate: How It Works

The cost of living is increasing everywhere. As fuel prices soar and the cost of groceries go up we are also hit with expensive power bills for our homes and offices. As there is no possible way we can go without much needed power to our places of work and homes we are looking to alternatives that are considerable cheaper for us and better for the environment. Solar power has been around long enough that many people understand how it works and the great benefits it has to offer. What you may not know is there is great rebates available too.

Changes to the government rebate.

Originally there was an $8000 rebate available but these ceased from July 1st 2009 when the new scheme came into effect. For any solar panel system installed from 1st July 2009 the solar credit scheme will apply. All income levels are eligible for this scheme so there is no means testing, EVERYONE is eligible. The offer is available to all homes and businesses and they will receive the massive financial benefit of 5 times the number of RECs for the first 1.5kW of system capacity, this is to help persuade people to make the change to using renewable energy. This new scheme is applicable to off grid and grid connect solar power installations and any extra power that is produced can be sold on to the power companies under the state government feed in tariffs for guaranteed earnings.

RECs are designed to put a value of displacing greenhouse gases. Just like shares, they have a market value and are tradable as a form of electronic currency. You can sell your RECs in advance, up to 15 years of proposed electricity production, if you purchase a grid connect solar power system meaning you will have the money straight away and ultimately reducing the cost of having the system installed. Add this fantastic financial benefit to the fact you are doing your part for the environment and it’s easy to see why more and more people are making the change to solar power. By taking positive steps to a better future for further generations you will be taking a positive step to taking control of your finances and reduce your bills dramatically.

While solar power is not a new idea for energy sources, it is certainly the best one. With the sun’s energy on constant supply for our use, your carbon footprint can be smaller while your finances soar higher.

Get your solar system now as rebate drops June 30, 2011.