On Friday 16 November 2012, the Australian Government announced that the Solar Credits multiplier on small scale solar power photovoltaic wind or hydro systems will cease 1 January 2013. This brings forward the date 6 months as it was due to cease 1 July 2013.
Effectively this means that from 1 January 2013 the only federal rebate for the purchase of solar power wind or hydro systems will be the Small Scale Technology Certificates (STCs) available because they are an environmentally friendly energy power source.
The multiplier which determines the additional certificates an eligible photovoltaic PV system can create is:
| Date Installed | 1 July 2012-31 December 2012 | From 1 January 2013 onwards |
| Multiplier | 2 | No multiplier (1) |
The Effect of This Change
For a 1.5kW photovoltaic system in the Perth metro area, zone 3, with STCs trading at $30 say this will mean a reduction in the solar credit of $930 and an effective $930 increase in the price to buy a photovoltaic system from 1 January 2013. (31 STCs entitlement x $30 per STC).
Solar Credits Eligibility
The eligibility rules are prescribed in the renewable energy target (RET) scheme regulations, administered by the Clean Energy Regulator. The most important rules are:
- The power system must be an eligible small-scale solar power PV, wind or hydro system;
- The power system must be installed at an eligible premise. Examples include houses, townhouses, residential apartments and shops.
- The power system must be a new and complete unit.
- Limit of one claim per premises.
