For those of you looking to install a solar energy and benefit from the Federal Solar Credits Scheme you need to act soon.

The Solar Credits rebate will see a further reduction from 1 July 2012 – with a further reduction in the multiplier from 3x to 2x. This equates to a drop of 33 per cent and follows a similar reduction in 1 July 2011 when the multiplier was reduced from 4x to 3 x. The government has indicated that the reductions are necessary to compensate for higher than expected demand for solar products. Solar panels have also become relatively more affordable – largely due to a glut in global supply. 

Why Go Solar?

The rebate effectively reduces the cost of installing a roof mounted solar panel system, with credits applied to the first 1.5 kilowatts of capacity. The scheme is based on the trade and sale of Small Scale Technology Certificates (STCs) - formerly known as RECs – or Renewable Energy Certificates. These are generated by installing a rooftop solar system of a specific size to your home or premises.

The change will not affect anyone who has already installed a system or has already placed an ordered for a roof top solar system.