The average rebate for residents living in New South Wales is $3,250.
The solar rebate program is for all Australian residents. This government initiative is to help cut down the costs of solar installation. This is also a move to encourage residents to go green.
The average above, $3,250, is not fixed, and it varies depending on your location, the size of the solar panel, and the current STC value.
- Your Location
If you compare the rebates given to those living in Northern Australia and to you living in NSW, you will notice that they get slightly more discounts.
This is because the rebate amount depends on your location. NSW, for instance, is in zone 3. Each zone has its STC zone rating, and that for NSW is 1.382. The zone rating is one factor that helps calculate the discount.
- The Size Of Solar Panel
The bigger the solar system, the more rebate you get. This does not mean that you exaggerate and get massive systems. The recommended size is a 5Kw system.
For the 5Kw system, you can expect to get a discount of about $2,990, considering the STC value of approximately $39.40.
Most people prefer a 6.6Kw solar system; it produces enough energy to keep your home appliances running effectively.
- The Current Small Scale Technology Certificates
The value of the STCs depends on the demand and supply in the market. This is the main reason why it fluctuates. If we consider historic trends, the STC value decreases yearly.
For those living in NSW, the current STC value is $39.40. This figure will also help us calculate your rebate.
How Much Rebates Will I Get In NSW?
The main determinants of the exact amount of discount you get are the nominal wattage of your solar panel, the deeming period, the zone rating, and the current STC value.
Here, we only have two constants: the nominal wattage of the solar panel and the zone rating, and two variables: the deeming period and the current STC value.
The STC value fluctuates depending on demand and the deeming period is the number of years from the date of installation to the year 2030.
Despite these fluctuations, expect to get at least a 50% discount on the total cost. For a 5Kw solar system, it will cost you less than $7,000.
It is even cheaper if you consider different quotes from vendors near you. Also, you can check the Energy NSW official website for any updates and promotions that you can take advantage of.
What Is The Exact Rebate For A 10Kw Solar System In NSW?
The average amount is $5,988, but this fluctuates.
To determine the exact rebate you get, use the formula;
(Nominal solar panel wattage x deeming period x the zone rating)
For the 10Kw system, the wattage is 10; the deeming period is nine, and the zone rating is 1.382. By substituting these figures into the formula, we get 124.38.
We then multiply this figure with the current STC value, 124.38 x $39.40, which results in $4,900.57; this is the rebate you get.
- The bigger the nominal solar panel wattage, the more rebate you get and the more it costs.
- Given the same STC value, the higher the deeming period, the more rebate you get. This means you get higher discounts than you will earn next year.
Do I Qualify For The Solar Rebate Program In NSW?
All residents of NSW can claim their rebates as long as;
- You have a home or caravan where you want your system installed.
- You acquire services from a recognized vendor.
- The solar system installed meets all the standards set by the Clean Energy Council.
- Your solar system must not have a nominal capacity of more than 100Kw or a yearly output exceeding 250 Mwh.
- You claim your rebate before during 12 months.
- You have to follow all the rules, safety guidelines, and requirements by the state and NSW authorities.
When Is The Solar Rebate Program Set To End?
The project is to end on 31st December 2030. That is why we calculate the deeming period as the number of years to 2030. By this time, the Australian government hopes that all homes in New South Wales will be using solar energy.
This rebate tends to reduce as we approach the year 2030.