Australia Solar Rebates: Looking Ahead to 2023

On This Page:



• Overview
• What is the value of STCs?
• What about other solar rebates and subsidies programs?
• Should I wait until 2023 to get a quote?
• Contact us for a free quote

2022 has flown by, and with only one month left until the end of the year, it is time to look ahead to what next year will look like when it comes to Australia's solar rebates and subsidies.

Overview

Australia's national solar rebate is technically an up-front subsidy applied at the point of sale, that can reduce the cost of a home and business solar. For smaller systems, this can be thousands of dollars in savings, and in the case of larger systems up to 100kW, it can be up to tens of thousands of dollars.

This subsidy is called Small-Scale Technology Certificates (STCs). Despite its name, it is a virtual paper created after solar system is installed and offered as a point-of-sale discount. The number of certificates a system is eligible for is based on several factors such as the location of installation, solar panel capacity and the year of installation.

What is the Value of STCs?

The value of these STCs fluctuates with the market condition and has reduced each year on 1 January 2017 as part of a planned phase-out. The value of STCs is expected to drop to zero in January 2031. This means on 1 January 2023; there will be another round of STC reduction.

What About Other Solar Rebates and Subsidies Programs?

Each state government has different closing dates and eligibilities for its solar rebates and subsidies program. For example, in Victoria, the Solar for Business Program is place-based, offering up to 15,000 places for eligible businesses over three years (5,000 places per year) to apply for a rebate of up to $3,500 for their solar installation. There are currently 1,100 places remaining in this year's release, and it is expected there will be an influx of last-minute applications.

It Seems Like I've Missed the Boat for 2022's STCs - Should I Wait till Mid-2023?

While the STC spot prices have been relatively steady, we can't predict they will remain stable in 2023.

Furthermore, it can take around six weeks to get a quote and choose a solar installer to have solar panels on your rooftop. Depending on the installer's availability, weather and system size, this can sometimes take longer. While this is certainly not the time to make a hasty decision and panic buy, now is an excellent time to pull the trigger and contact a few installers for quotes.

With electricity prices predicted to increase by up to 35% in 2023, the longer your rooftop is without solar panels, the longer your household or business will be locked into higher electricity bills.

Furthermore, with inflation and other cost pressures, system hardware costs may also increase next year. While it is not guaranteed, getting a quote from installers will ensure you get the best prices for your solar panels and equipment.

Ready to Pull the Trigger on Solar?

Contact our solar consultant today for a quote. At Quality Energy, we know there is no one-size-fits-all approach when it comes to energy efficiency solutions, especially solar. In our quote, we will provide an analysis of the savings you can expect, how much subsidies you can expect to receive and finance options that suit your business, so you can make an informed decision about your business' energy future. Find out more about our approach to commercial solar here.