Homeowners are Paying Next to Nothing for Solar Panels

IAIN ADKINS | Contributing Economics Editor
8:32AM Thu, 20 May 2021

Warning: Do not pay your next energy bill until you read this.

There is a simple inconvenient truth your power company doesn’t want you to know. There is a policy that qualifies homeowners who live in specific postcodes to be eligible for $1000s of Government funding to install solar panels; the PV Small Technology Certificate (STC) Subsidy*.

Why doesn’t your power company want you to know about this? Because it can eliminate your power bill and cost $0 up front to install.

The subsidy is primarily based on a specific part of the Federal Government’s Renewable Energy Target (RET) legislation, and is primarily designed for homeowners to install solar panels on their roof.

The financial benefit generated from STC’s is generally included in the advertised solar package costs and offered as a point of sale discount. Ultimately, this saves you the hassle of having to claim the subsidy yourself and also reduces the initial capital outlay.

When it comes to solar power, the questions households need answered are as follows:

1. Do I qualify for a solar rebate?
2. Can I eliminate my power bill?
3. Is my home suitable for solar?
4. What will it cost me?

Here is how much rebate is available for a 6.6kW solar system in various states:

  • Adelaide, Brisbane, Canberra; Sydney: $3,750*
  • Melbourne, Hobart: $3,225*
  • Darwin: $4,387*

Steven Jenkins, an authority on everything related to Solar Energy replacement, set out to do some research and determine whether this program lives up to its reputation. A year after installing solar, Steven was able to report back a dramatic reduction in his power bill.

Before solar

After solar

Source: 3Quotes, 6 January 2020

So, how does this program work? Until recently, solar panels cost $1000s of dollars to purchase and install, and unless you were building a new home or had that much extra cash sitting around, the cost was more than the benefit. The solar panels had to be purchased outright without any Government assistance.

The cost of solar panels has lowered dramatically in the last 5 years, leaving solar panels affordable for consumers who previously could not afford to switch to solar power. Either way, one thing you can be sure of, is that your power company is not going to call you up and let you know you can eliminate your power bill for $0 up front.

How do I see if I Qualify?

With massive solar rebates now available, these online services are gaining massive popularity. One of the most trusted, secure and effective free online service that provides homeowners with fantastic value is 3QuotesTM. Over 250,000 homeowners have already trusted 3QuotesTM to get quotes on solar. If you too would like to receive the benefits of using this free service simply follow the steps to determine if you're eligible.

Step 1: Click your state on the map to instantly check your postcode for free

Step 2: Once you go through a few questions, you will have the opportunity to compare quotes in your area. Select your state below:

* Assumes STC price of $37.50/STC
* http://www.cleanenergyregulator.gov.au/RET/How-to-participate-in-the-Renewable-Energy-Target/Financial-incentives