26 Sep OFF GRID MULTIPLIER INCREASED TO 20KW
The Australian Government has now passed the eRET (Enhanced Renewable Energy Target) legislation. The Solar Credits Scheme, whereby multiple REC’s are awarded for Grid systems up to 1.5k/Watts, is now split to include qualifying Off-Grid Solar Power Systems.
To qualify, households/businesses must be more than one kilometer from the main grid, or be able to provide proof that it would cost over $30,000 to connect to the grid. If so, the Solar Credits multiplier will apply for the first 20kW of Solar System installed. Capping will apply, and the incentive will only be available to the first 250,000 REC’s applied for in each financial year for the first 2 years, and as usual, will be reduced thereafter.
ORER will update the tally of off-grid systems regularly, visithttps://www.orer.gov.au/publications/off-grid-tally.html.
Based on our simple calculations an off grid system with a 5kW array in zone 3 would receive approx 518 REC’s or $18,130 (at a dollar value of $35).
This is great news for the Industry, as the Off-Grid rebates, (previously known as the RRPGP scheme) was closed off in June 2009 for most States.
It would be advisable to view the Government’s Department of Climate Change and Energy Efficiency website, https://wwwclimatechange.gov.au , and the CEC website, https://www.cleanenergycouncil.org.au for future news and information releases on this subject.