With rising energy costs every year, the demand for residential and commercial solar systems has gradually increased. It has never been a better time to consider the switch to solar systems and enjoy energy independence. With flexible finance options and NSW government solar rebates and incentives, affording solar systems has always been challenging.
Learn about Solar Rebate NSW, its benefits, and how to check if you are eligible in our comprehensive guide.
What is NSW Solar Rebate?
The New South Wales Solar Panel Rebate program was launched to promote the switch to solar energy. In 2024, eligible homeowners can avail up to $3,000 (depending on system size) in refunds or loans for solar panel systems. This includes both the NSW rebate and federal Small-scale Technology Certificates (STCs), which can lower the total installation cost by up to 33%.
The NSW Solar Panel rebate is a point-of-sale discount, meaning the rebates will be automatically applied to the cost of the system, hence reducing your upfront investment.
Check Your NSW Solar Rebate Eligibility
To qualify for the NSW Solar Rebate, certain criteria must be met:
- Your household income must be under $180,000 per year.
- Your property value must not exceed $3 million.
- You must install a system using Clean Energy Council (CEC)-approved components and an accredited installer.
- Low-income households also access interest-free loans or swap their annual energy rebate for a solar panel system through the Rebate Swap for Solar initiative.
Interest-Free Loans for Solar Systems
In addition to rebates, eligible NSW homeowners can also access interest-free loans to further reduce the upfront cost of installing solar systems. These loans make switching to solar even more affordable, allowing you to spread out the payments while still enjoying the benefits of solar energy from day one.
New Solar Battery Rebates (Effective November 2024)
Starting November 1, 2024, NSW Government Solar Rebate provides incentives between $1,600 and $2,400 to eligible households and businesses. Additionally, by connecting your system to a Virtual Power Plant (VPP), you can receive further incentives ranging from $250 to $400. These incentives can be claimed twice, with a minimum gap of three years.
Benefits of Adding a Battery System:
- Maximise solar power usage during non-sunlight hours.
- Achieve additional savings by feeding excess energy back into the grid.
- Enjoy incentives for participating in VPP schemes, further reducing electricity costs.
Significant Benefits of Solar Panel Rebates in NSW
- Reduced Upfront Costs: The rebates are applied directly at the point of sale, so you don’t have to wait for reimbursement, making solar installations more affordable.
- Significant Savings on Energy Bills: Sun energy helps reduce reliance on grid electricity, leading to long-term savings on energy bills.
- Increased Property Value: Solar installations enhance the value of your property, making it more attractive to potential buyers.
- Environmental Impact: Switching to solar energy reduces your carbon footprint, contributing to a cleaner, more sustainable future.
- Protection Against Rising Electricity Prices: Installing solar panels shields you from sudden electricity rate hikes, especially with increasing grid instability.
- Energy Security: A solar battery system stores excess solar energy and uses it during non-sunlight hours, reducing dependence on the grid and ensuring energy availability during outages.
Remember, the rebate percentage will gradually decrease by 4 to 5% every year. If you are considering switching, you must take advantage of the current rebate scheme and save significantly on your initial investment.
Updated STC Rebates for Different Solar System Sizes
The federal rebate is offered through Small-scale Technology Certificates (STCs), which are based on the size of your system and its expected energy production. This rebate can reduce the installation cost by up to 33% for eligible systems.
Here’s an approximate estimate of the STC rebates available for various system sizes (assuming an STC value of $38):
- 1.5kW System: $1,064 – $1,140 (28-30 STCs)
- 2kW System: $1,444 – $1,520 (38-40 STCs)
- 3kW System: $2,204 – $2,280 (58-60 STCs)
- 4kW System: $2,964 – $3,040 (78-80 STCs)
- 5kW System: $3,724 – $3,800 (98-100 STCs)
- 6.6kW System: $4,902 – $5,016 (129-132 STCs)
- 10kW System: $7,524 – $7,600 (198-200 STCs)
- 10.56kW System: $7,942 – $8,056 (209-212 STCs)
- 13.2kW System: $9,918 – $10,032 (261-264 STCs)
These values can fluctuate depending on the current STC market rate, which generally ranges between $35 and $40. The rebate amount will gradually decrease annually as part of the phase-out scheme until 2031, so it’s best to act quickly to maximise your savings.
Steps to Avail NSW Government Solar Rebates
1. Consultation
Begin by scheduling a consultation with Greenlight Solar. Our team will assess your energy needs and recommend the best solar system for your property.
2. Eligibility Verification
Confirm your eligibility on the official NSW government website. We’ll ensure you meet all criteria, such as income limits and property value.
3. Choose a Solar System
Get a quote from Greenlight Solar using Clean Energy Council (CEC) accredited components. We’ll calculate the available rebates, including Small-scale Technology Certificates (STCs), and apply them directly to reduce your upfront costs.
4. Rebate Application
Once satisfied with the quote, we’ll handle the entire application process via the NSW government portal. After approval, the rebate amount will be deducted from the total cost.
5. Installation
Greenlight Solar’s accredited installers will manage the installation process, ensuring that all components meet the necessary standards to qualify for the rebate.
6. Rebate Claim
After installation, we’ll handle the paperwork to finalise your rebate claim and ensure that all incentives are applied, maximising your savings.
Maximise Your Solar Savings
If you are a property owner considering the switch, now is the best time to reap the benefits. Enjoy energy independence on your terms with ease of affordability. With the current rollout of time-of-day metering throughout the Ausgrid network, you will save about 52 cents for each kWh of solar power your system produces between the peak hours of 2 pm and 8 pm. We will customise a solar system for you based on a complete analysis of your daily energy patterns.
Contact us today if you’re looking to install Solar Panels in Sydney, and we’ll help you take advantage of the solar rebate scheme.
Frequently Asked Questions (FAQs)
How Can I Apply for NSW Solar Rebate?
Your solar provider applies the rebate automatically at the point of sale, so you don’t need to apply separately. To begin the process, contact a solar provider to confirm your eligibility; they will handle the rest.
How much can I save with the NSW Solar Rebate?
The NSW Solar Rebate can reduce the cost of a solar system by up to $3,000. Additionally, Small-scale Technology Certificates (STCs) can lower costs by up to 33%, depending on the system size.
Will the solar rebate decrease over time?
Yes, the NSW Solar Rebate and the federal STCs are set to decrease by 4-5% each year gradually. This reduction reflects the declining cost of solar technology. To maximise your savings, it’s recommended that you take advantage of the current rebate.
Will solar installation increase my property value?
Yes, homes with solar installations are often more attractive to buyers as they offer long-term energy savings. Solar systems can increase property value, providing a valuable return on your investment.
