Financial Incentives and Rebates

Several financial incentives have been introduced to make living sustainably more affordable.

See below for more information about Small Scale Technology Certificates, Solar Credits, Solar Bonus Scheme and Rebates.

Small-scale Technology Certificates (STCs)

Small-scale Technology Certificates (STCs) are an electronic form of currency. You receive one STC for every one megawatt hour (MWh) of electricity generated by your renewable energy system.

Note: STCs replaced Renewable Energy Certificates (RECs) on 1 January 2011 for small-scale energy systems.

Am I eligible to receive STCs?

You could be eligible to receive STCs if you install one of the following small scale energy systems at home:

  • a solar power system
  • a wind power (turbine) system
  • a hydro (water) power system
  • a solar hot water system
  • a heat pump hot water system

You may not be entitled to STCs if your home is being built by a builder or property developer and the system is included as part of the building contract. In this case, STCs are likely to be created and traded by the builder.

What are STCs worth?

The value of an STC is not a fixed price. STCs are a tradeable commodity, so the value of a STC is determined by the demand and supply for STCs and may vary from buyer to buyer and from day to day.

The only time the STC price is fixed is if it is to be traded through the ORER-managed STC Clearing House.  Prices of STCs are fixed at $40 (excluding GST), regardless of what the STC market is doing.

What can I do with my STCs?

There are two main choices for residents in relation to STCs:

  1. You can surrender your STCs to a registered agent in return for a discount or a cash payment at the time you buy your new system. Where applicable, our ClimateClever suppliers can facilitate this process as part of their service.
  2. You can hold onto your STCs and sell them at a future time or retire them so your renewable energy system fully contributes to directly reducing greenhouse gas emissions rather than allowing another polluter to offset their emissions.

How do STCs relate to the Renewable Energy Target (RET) scheme?

The Renewable Energy Target (RET) scheme sets targets for the production of additional electricity generated from renewable energy sources. Australia currently has a set target of sourcing 20% of energy from renewable resources by 2020.

Electricity retailers and other purchasers of wholesale electricity (called liable parties) are required to contribute towards these increasing annual targets.

The liable parties show their compliance with the requirements of the RET scheme by obtaining either STCs or Large-scale Generation Certificates (LGCs). Each STC or LGC is equal to one MWh of electricity generated from a renewable energy source.

The Office of the Renewable Energy Regulator has more information about the RET.

Solar Credits

The Solar Credits Scheme has replaced the Australian Government's $8,000 rebate for small-scale renewable energy systems such as household solar power systems. The Solar Credits Scheme applies to all solar systems purchased from 9 June 2009. This scheme is not restricted by a $100,000 means test and is also available for properties that are not primary residences, such as holiday and investment properties.

Solar Credits are part of the Renewable Energy Target (RET) scheme, which aims to ensure that 20% of Australia's electricity is generated from renewable sources by 2020.
When you purchase a solar power system between 1 July 2011 and 30 June 2012, you will receive three times the number of RECs for up to 1.5kW of the system. Solar Credits are not available to homeowners who have already received or plan to apply for the $8,000 rebate.

Our ClimateClever suppliers will determine eligibility during quotation, where applicable. The Federal Government's Solar credits FAQ has more information about Solar Credits.

NSW Solar Bonus Scheme

The Solar Bonus Scheme for NSW has been suspended. No new applications are being considered as of midnight 28 April 2011.

For up to date information visit the NSW Government’s Solar Bonus Scheme website.

Rebates

What rebates does the Australian Government offer?

The Australian Government offers the following schemes to eligible households:

Renewable Energy Bonus Scheme

$1,000 cash back for a solar hot water system
$600 cash back for a heat pump system

Our ClimateClever suppliers will determine eligibility during quotation, where applicable. The Australian Government website has further information.

What rebates does the NSW Government offer?

The NSW Home Saver Rebate program ended on 30 June 2011. More information is available on the NSW Government website.

What rebates or grants does my local council offer?

There are currently no rebates available from local councils.