If you are contemplating solar for your business, it is a pretty good idea to get your order in and signed off before Christmas. This is to make sure you secure the up front rebate currently on offer before it is reduced.
Right now, solar PV systems smaller than 100kW qualify for UPFRONT SREC (STC) rebate. The UPFRONT Rebate for a 99kW ranges up to $54,672 out to 31 Dec 2021 for Queensland solar system owners. In Victoria, the amount is slightly lower. This is because Victoria have less sunlight hours over the course of a year. After the end of the year it’s all change.
From 1st January 2022 the same rebate goes down to approximately $49,672 in Queensland based on a $38 STC – the current value of STC’s is $37. STCs are deducted off the purchase cost. Systems above 100kW receive Large Scale Renewable Energy Certificates (LRECs) that are paid annually until 2031 rather than upfront.
The rebate you will receive is determined by the amount of SRECs (Renewable Energy Certificates) the system generates over its lifetime (calculated via formula) multiplied by the value of each certificate on the spot market. The value normally sits around $34-$38 but can drop to as low as $26 when much more solar than average (or was projected at the start of the year) is installed in any given month.
To give you an idea, typical residential houses are installing an average size solar system of 6.6kW with a 5kW inverter in 2021. A small business usually suits approximately 36kW of panels with a 29.9kW inverter and the small to medium commercial and industrial businesses usually suit a 99kW system. Medium to large sites generally require 100kW up to 1MW.
Below are the indicative upfront SREC rebate for a 30kW and 100kW system in QLD:
For a commercial solar assessment and proposal contact SmartConsult on 1300 344 388 or click here to contact us today. Our experienced energy analysts and engineers with a dedicated team of technical consultants work together to ensure our clients are taken care of in all aspects of the process. In conjunction with CEC accredited installation partners and team of electricians we offer complete EPCC/Turnkey solutions fully installed with no more to pay. Work is guaranteed, and all products are CEC approved and come with industry leading product warranties directly serviced by the manufacturer via their Australian offices. Click here to read more about our commercial solar services.