‘Solar Credits’
The rebates of upfront discount that you are getting now as point of sale discount is coming from the amount of RECs you are getting multiply by the RECs value. With RME you are getting $40 per REC multiply by 155 RECs which equals to $6,200 for a 1,5Kw system in a zone 3 area. The longer you delay in getting solar system installed means the more chance you will be losing out on full benefits of SOLAR CREDITS aka RECs Multiplier.
This is why RME push for the URGENCY to get the system installed as soon as possible before you missed out.
Below it will explain further about SOLAR CREDITS:
The expanded RET scheme includes the ‘Solar Credits’ mechanism to boost the support to households and businesses that install small-scale solar PV, wind and micro-hydro systems by multiplying the number of tradeable RECs able to be created for eligible installations
Solar Credits are available for eligible systems installed on or after 9 June 2009. Solar credits apply to the first 1.5 kilowatts (kW) of capacity installed. Generation from capacity above 1.5 kW will still be eligible for the standard 1:1 rate of RECs creation.
Solar Credits apply from 9 June 2009 and will be phased out by 2015-16. This recognises that technology costs are going down, and the Carbon Pollution Reduction Scheme will also be providing incentives for renewable technologies
Level of support under Solar Credits
The level of support in terms of the number of RECs received via Solar Credits will be determined by the date the system is installed. The number of additional credits will be based on the multiple as set out in the following table.
| Year | 9 June 2009 – 30 June 2010 | 2010-11 | 2011-12 | 2012-13 | 2013-14 | 2014-15 | From 2015-16 onwards |
| Multiplier | 5 | 5 | 5 | 4 | 3 | 2 | No multiplier |
If the system is installed between 9 June 2009 and 30 June 2012, the home owner will receive five times as many RECs as under the standard deeming arrangements.
The multiplier reduces to four for systems installed from 1 July 2012 to 30 June 2013 and continues to reduce each year until it has phased out to the standard multiple of 1 from 1 July 2015. The timing of the phase-out means that Solar Credits will not adversely affect reaching the 20 per cent target by 2020.
Under the standard RET scheme rules, system owners can receive RECs for the lifetime generation of the system either upfront or over longer time periods of one, five or (in the case of solar PV systems) fifteen years (the so-called ‘deeming period’).
To assist with administrative efficiency and for maximum upfront assistance, the additional Solar Credits will only apply in the first time period that certificates are created for a system. This means that home owners can receive the full benefit of the solar system at point of sale, helping with the upfront costs of installing the system.
Examples
The level of subsidy will depend on a number of factors, including the price of
Renewable Energy Certificates (RECs), the deeming period chosen by the applicant, the location of the solar PV system and the size of the system.
For example, a solar PV system in Sydney, Perth, Adelaide, Brisbane or Canberra will receive $5,150 for a 1 kW system and $7,750 for a 1.5 kW system installed in 2009, based on a $50 REC price.
A system installed in Melbourne or Hobart will receive fewer RECs as these areas have less sunshine so less renewable energy is produced. For example, a 1 kW system installed in 2009 will receive $4,400 and a 1.5 kW system will receive $6,650 based on a $50 REC price.
