Solar Rebates
Solar Rebates and Incentives
Unlock the benefits of solar energy with the latest rebates and incentives available in Tasmania. At Expert Electrical, we help you navigate the various schemes to maximise your savings. Whether you’re a homeowner or a small business, understanding and utilising these opportunities can reduce your solar installation costs.
Small-Scale
Small-Scale Renewable Energy Scheme (SRES)
The Small-Scale Renewable Energy Scheme, often referred to as the Federal Government Rebate, is a key incentive for solar installations. This scheme rewards you based on the amount of CO2 your solar system will offset from the year of installation until December 31, 2031.
When you install a solar system, it generates Small Scale Technology Certificates (STCs). The number of STCs your system earns is calculated using the formula: system size in kilowatts (kW) × zone multiplier × years left in the scheme. For example, a 7.92 kW system installed in Tasmania (Zone 4) in 2024 would generate 65 STCs (7.92 × 1.185 × 7, rounded down).
These STCs can be sold either through an aggregator or the clearing house, with a maximum price of $40 per STC through the clearing house (if you are prepared to hold onto them yourself until they sell and forgo the upfront discount). Aggregator prices typically fluctuate between $35 and $39.
For a 7.92 kW system in Tasmania, this could mean a rebate of around $2,412 at an STC price of $37.10.
Feed-in Tariff
With a solar system, the electricity you generate is first used by your home. Any excess power that you don’t use is fed back into the grid, and you receive a payment of 8.935 cents per kilowatt-hour (kWh) for this surplus energy.
However, the real savings come from the energy you use directly from your solar system, as it offsets the cost of purchasing electricity from the grid at 35.836 cents per kWh. This means that every kWh you use yourself is worth over four times what you would earn by exporting it to the grid (as of August 2024).
Tasmanian Government Schemes
Tasmania offers additional support to help residents and businesses adopt solar and other energy-efficient technologies. Below are the key schemes available:
Tasmanian Energy Saving Loan Scheme (Tas ESLS)
This scheme, run through Brighte, provides 0% interest loans of up to $10,000 to residential households and landlords of residential properties. The Tasmanian Government covers the interest, making it a true interest-free loan.
Eligibility Criteria for Individuals:
- Must be a permanent resident of Australia.
- Must be 18 years or older.
- Must have a bank account or credit card in the applicant’s name.
- Must demonstrate capacity to repay the loan.
- Must have an acceptable credit profile and clear credit file.
- Approved products must be installed in a residential property within Tasmania, either a standalone residence or a unit-titled property (with necessary approvals).
The scheme is only accessible through accredited vendors on the Brighte marketplace. Loan funds are paid directly to your vendor by Brighte, and you make repayments to Brighte under the loan terms.
Smart Home
Tasmanian Energy Saving Loan Scheme for Businesses (Tas ESLS SME)
Small businesses and not-for-profit organisations can also benefit from the Tas ESLS, with 0% interest loans of up to $10,000 available.
Eligibility Criteria for Businesses:
- Must have electricity consumption lower than 150MWh per year.
- Must be a small business, commercial, or community organisation property.
- Must have an Australian Business Number and an incorporated legal structure.
- Must have been in business for at least 2 years.
- Must have no bankruptcies or amounts owed to the ATO.
- If a Community Organisation, financial statements may be required.
- Director’s personal guarantee is required for SMEs but not for Community Organisations.
As with the residential scheme, this loan is only available through accredited vendors on the Brighte marketplace, and loan funds are paid directly to the vendor.
