Federal Governments beginning of the end of STC’S November 08 2016
Explanation of how STC’S work
If you’ve looked into buying a solar power system, you’re probably already familiar with Small-Scale Technology Certificates or STCs. This is a major incentive for both homeowners and businesses, STCs offer substantial discounts off the upfront cost of a Solar PV System.
When purchasing a new Solar PV System and even add on systems, you’ll automatically receive 1 STC for every Megawatt-hour of energy your system is expected to produce over the next 15 years.
2016 will be the last year you will receive the maximum STC allowance.
If you would like more information regarding the explanation of how STC’s work please call Greener Housing Solutions 08 8449 7627 or our afterhours mobile 0438417497
What do the changes mean?
Due to changes made by the Federal Government, these incentives are set to reduce by 1/15 (around 6-7%) in January 2017 and every year thereafter, until 2031 when they are eventually phased out completely. This means the sooner you invest in a solar power system, the more you’ll save on the upfront cost.
The overall cost of a new or add on solar power system will remain the same but when the Federal Government starts to reduce the incentives on all systems installed on or after 1/1/2017 the purchases price will go up… Costing the purchaser more.
There is also no guarantee the decreased STCs will stick around until 2031. The Federal Government, regardless of which party holds power, has the ability to axe the incentives at any point in time.
Now’s the time to act
To secure the current STC incentives and maximise your savings, you’ll need to purchase and install your solar system before January 1, 2017.
To find out which system size best suits your energy needs and how much going solar you could save you on your electricity bills, Request a No Obligation quote from Greener Housing Solutions