Summary of Solar Credits
- Solar Credits are available for systems installed on or after 09 June 2009
- Solar Credits will apply to new installations of small scale renewable energy generators eligible under the scheme.
- Solar Credits will apply for installations to residential homes, community buildings, and for installations to/for small businesses.
- The eligibility for Solar Credits will not be means tested.
- The Solar Credits scheme applies to both grid connect and remote system installations.
- Solar Credits will apply to the first 1.5 kilowatts (kW) of capacity installed. Generation from capacity above 1.5 kW will still be eligible for the standard 1:1 rate of REC’s creation.
- Solar Credits will only apply to the first small-scale generation system installed at an address.
- Solar Credits will apply from 09 June 2009 and will be phased out by 2015-2016.
- The level of support in terms of Renewable Energy Certificates (REC’s) received via Solar Credits will be determined by the date the system is installed. The number of additional credits will be based on the multiple as set out in the following table.
| Year | 09 June 2009 – 30 June 2010 | 2010 – 2011 | 2011 – 2012 | 2012 – 2013 | 2013 – 2014 | 2014 – 2015 | From 2015 Onwards |
|---|---|---|---|---|---|---|---|
| Multiplier | 5 | 5 | 5 | 4 | 3 | 2 | No Multiplier (1) |
- If a system is installed between 09 June 2009 and 30 June 2012, the home/business owner will receive five times as many REC’s as under the deeming arrangements for the existing Renewable Energy Target scheme.
- The multiplier reduces to four for systems installed from 01 July 2012 to 30 June 2013 and continues to reduce each year until it has phased out to the standard multiple of 1 from 01 July 2015. The timing of the phase-out means that Solar Credits will not adversely affect reaching the 20 per cent target by 2020.
- Solar Credits can be offered as a point of sale reduction towards the system price, leaving only the balance of payment required for the selected system.
