Solar Australia – Making Solar Panels Affordable in the ACT

ACT residents can save money on energy bills and earn credits for their excess electricity by installing solar panels. Incentives like the Solar Feed-in Tariff (FiT) help make this technology even more affordable.

FiT rates vary by energy retailer and plan size, and can include time-variable tariffs. Getting the best rates requires comparing plans and understanding how your solar system will benefit you.

Solar Feed-in Tariff (FiT)

The Solar Feed-in Tariff (FiT) is a policy tool that encourages the adoption of renewable energy technologies like solar power. It also helps achieve the goals of countries and regions for reducing greenhouse gas emissions. It is an effective way to promote clean energy while minimizing the cost of implementation.

The FiT program offers significant up-front incentives in the form of Small-scale Technology Certificates (STCs), which utility companies are obligated to purchase under Australia’s National Renewable Energy Target. These STCs are then traded for an upfront discount on the price of a system.

A household in Canberra can save up to $10,000 a year if they install an entry level 5kW solar system. Moreover, the savings increase with the larger the size of the system. In addition, homeowners can reduce their electricity bills even more by using appliances during the day, such as dishwashers and hot water systems. A savvy solar homeowner can use online calculators to determine how big a system is required for their house.

Solar Investment Tax Credit (SITC)

The Solar Investment Tax Credit is a rebate that can offset the initial costs of a solar power system. It can be used by individuals and companies that pay taxes in the US. This includes partnerships and S corporations. The credits can be claimed on your federal income tax return, and they apply to both active and passive income.

Canberra is a great place to invest in solar, as it has one of Australia’s highest sunshine hours. By installing a solar energy system, you can reduce your electricity bills and reduce greenhouse gas emissions.

The ACT has several schemes for homeowners looking to go solar, including the Sustainable Household Scheme and the Next Generation Energy Storage program. These programs, along with national incentives such as STCs, make going solar more affordable for Canberrans.

Solar for Apartments Program

The Solar for Apartments program is designed to help apartment buildings and affordable housing communities make the transition to solar energy. By generating renewable energy onsite, these buildings can significantly reduce their reliance on grid electricity, which in turn results in lower utility bills for residents. The cost savings can also be used to invest in other energy efficiency and greenhouse gas-reducing upgrades, boosting property value.

However, many low-income households face barriers to solar adoption that are more complex than simply financial constraints. These obstacles include lack of financial incentives, inability to harness tax benefits, and differences in who pays the power bill (e.g., homeowner versus tenant).

The Solar for Apartments program helps overcome these obstacles by providing a variety of solar energy solutions for apartments and affordable housing. These solutions range from portable solar panels to community solar projects, which are a great option for those who cannot install their own rooftop systems.

Solar Banks Initiative

The ACT has comparatively low electricity prices, but rooftop solar uptake remains slow. However, more Canberrans are cottoning on to the concept – in 2018, residential installations doubled. Moreover, a number of new rebate programmes are encouraging people to switch to clean energy.

One such programme offers a rebate for battery storage systems, while the other reduces the cost of solar panels for eligible households. These rebates are backed by the Australian government.

It’s important to consider your energy needs before you purchase a system. A good way to assess your household’s consumption is to use a solar calculator. Alternatively, you can also contact a local installer to discuss your options. Some installers offer financing, which can help make solar more affordable for Canberrans. Brighte, for example, is supporting the ACT government’s nation-leading programs by offering finance to apartment households. This makes renewable energy more inclusive and accessible to all. This is an important step in the move to a greener future for Canberra and Australia as a whole.



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