How to save money with Solar Power

Solar Power - Will Solar power save me money?

What are the Solar Power Incentives, Rebates and Financing options? 

Rebates maybe available for your solar system. Over the years these rebates have changed and may continue to change in the future.
Talking to your nearest LG installer (Dale McDonald) at Camberwell Electrics Solar  Power Team, who will give you updated information about the latest rebate applicable to you.

There is currently one key rebate offered for solar PV systems in Australia called Small Scale Technology Certificates (STCs). As per June 2016, this rebate offered around $4000 towards a 5kW system, but the rebate amounts can change from time to time. When you see advertised sales prices for solar systems, these prices usually have subtracted the rebate from the full price.

Electricity Price Rise Impact

LG Solar Power System Saving & Payback Calculator

Using the LG Solar Power Savings Calculator, you can see how long it will take for a solar system to pay for itself. The calculator also allows you to compare a high quality photovoltaic (PV)  system with a lower priced solar system and see the difference in payback time.  

LG Solar Power System Income & ROI calculator

This LG Solar Power System income calculator allows you to estimate the income of a solar system over many years. It also allows you to compare a high quality system income stream versus a 2nd  lower priced/ less efficient system. It enables you to work out which solar power system gives you a better return on investment over the life of your solar system.

 

What are STC Certificates?

The savings of CO2 emissions via solar electricity generation is rewarded through tradeable certificates for small scale solar systems called Small Scale Technology certificates or STCs.

When your solar system is installed you can complete a calculation to confirm how many STCs will be created over the life of your system. This is effectively a measure of the renewable energy generation from your system.

Solar power system installation companies typically offer an up-front discount equal to the value they will receive when they sell your STCs.
What this means, is that the STCs for your system are handed over by you to the solar system installation company in lieu of some form of payment for your system. The solar system installation company then trades the certificates and receives a cash return.
Most customers treat their STCs like a rebate with their value deducted from the sale price of their solar system.
It is important to understand several key aspects of these STCs:

  • The Government does not pay you for certificates, nor does it set the price;
  • As of June 2016 a 5kW solar system attracts a rebate ranging from $3500 to $4000,
    but as a tradeable certificate, STC value can and does vary over time and is not fixed;
  • The quantity of STCs you may receive for a system varies depending on your location and when you create them;
  • Suppliers who agree to offer you a price for STCs must comply with certain rules and conditions set out by the Clean Energy Regulator and only approved companies may register and trade STC's

Solar Power Zero Deposit Payment Plans

In some cases consumers also have the option to finance a solar system.
Often homeowners redraw on their mortgage to finance the solar and battery system.
Your installer at Camberwell Electrics can advice you about other available finance options - like the Camberwell Electrics HSBC Solar Power Interest Free Finance Offer

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Camberwell Solar Power System FAQs

Please don't hestate to call the Dale on either (03) 9835 4343 or 0457-860-113 to discuss any questions about how to get the best solar power installation.