Solar energy is the cleanest form of renewable energy you can use to generate electricity.
Switching to such clean sources of energy is the need of the planet.
The traditional methods of generating electricity require burning fossil fuels and natural gasses, which can severely harm the environment.
The prolonged use of fossil fuels to attain energy has led to drastic impacts on the environment.
However, things are changing now, with more and more people gaining awareness about these issues.
Now, people are conscious of their carbon emissions and carbon footprints more than ever.
Incentives like the solar feed in tariff nsw motivate people to install solar panels in their homes.
The government of Australia is promoting sustainable and renewable sources of energy by giving out various incentives and rebates.
Only in the state of NSW, the demand for solar energy has increased from five to twelve percent. The need is likely to grow in the state since the region’s government offers so many incentives.
Under this incentive, the homeowners are paid for the extra electricity they send back to the grid.
Many homeowners are enticed to opt for solar panels owing to the feed-in tariffs. Other than the feed-in tariff, there are plenty more rebates offered by the NSW government.
Such schemes will assist the NSW government’s plan to reach net-zero emissions in the next thirty years.
Here are some of the incentives and rebates offered by the NSW government.
- Empowering Homes
The NSW government has subsidized solar panel systems for a long time now.
Recently, they have started to incentivize solar batteries. The empowering homes programs help the homeowners to set up a system of solar batteries.
The program offers interest-free loans to eligible households for setting up solar batteries and solar panels.
In the next five to ten years, the government expects at least two hundred thousand homes to avail of the incentives.
- The STC Program
Small scale renewable energy scheme is a financial incentive program to install solar panels available in all states.
The program aims to motivate households in Australia to bank more on solar energy by setting up more solar panels.
To redeem the rebate offer, one needs to have small-scale technology certificates.
Based on your solar energy system’s size, location, and capacity, you receive the certificates. You can use these certificates to redeem the rebate offers that will help you break even with the investment costs of setting up the system.
- Feed-in Tariffs
If you have a solar energy system at your home, you can sign up for feed-in tariffs.
Under this tariff, you receive money or credit from the electricity department in your existing bill when the excess electricity generated by your solar system is sent to the grid.
The buy-back rate of electricity under this tariff ranges from city to city and is highly volatile.
Different towns have different buy-back policies and rates—the solar feed-in tariff in NSW averages from 6.0 to 7.3 cents per kWh.
- Other Incentives
To aid the plan of Net-zero by 2050, the NSW government is planning to develop programs for households to set up solar panels and save energy costs.
Under these initiatives, the government has introduced various grants for the community.
Such fundings aid community energy hubs that provide households advice and assistance regarding energy savings and solar energy systems.
Incentives and rebates on clean and green energy sources motivate the general public to switch to solar energy for good.
This aids people to save a lot of money on energy bills and protects the environment from the adverse effects of burning fossil fuels.
The one-time setup cost is high, but with various government schemes in NSW, you can easily set up a solar energy system and break even in three to five years.