How Much You Can Receive Off The Price Of A Solar System

Solar power relating to houses becomes more popular each year. Because the cost of manufacturing decreases it is quickly turning into an affordable and practical option for a lot of home-owners. The government is assisting individuals with tax concessions they offer to people that elect to go green.

Why Use Solar Power?

Solar power for homes is good for the environment as it does not contribute to green house gas emissions. Just the use of solar power to heat our water drastically reduces carbon dioxide from being released into the atmosphere.

How does the Government help?

Solar Credits is the term assigned for the Australian government's latest solar subsidy for homeowners, businesses and neighbourhood communities. On 20 August, the program was authorised in government law, subsidising the expense of supply and install of a new solar renewable energy system (no means testing necessary). This program is in contrast to it's predecessor which was means tested for a home income of $100,000. It's the most recent in a variety of schemes, which unfortunately appear to change more often than most of us can keep up with.

The questions people most commonly seek the answer to are:

1. How much will I be able to receive off the price of a solar system?
2. How much will a solar system cost us currently?

Typically, if you would like a new 1kW system, you will get approximately $3,500 off the cost. If you'd like 1.5kW or more you'll then be able to reduce the cost by around $5,600.

So how much does this mean you could spend on a system?
Here are some ballpark figures with regard to costs. They'll differ by a thousand or so either way depending on the brand of panels and inverters suppliers use, as well as their particular overheads.

• Typical price of a 1kW solar system is approximately $8,500
• Government's Solar Credits Rebate is $3,500
• Cost to you personally to get 1KW of solar power is is around $5,000
• General cost of a 1.5kW solar system is $11,500
• Government Rebate is $5,500
• Cost for you to get 1.5KW of solar power is around $6,000

As you can see, the way in which the Solar Credits scheme works, the 1.5kW system is actually much better value. You get 50% more electricity for only about a 20% greater cost.

The solar credits scheme maxes out at 1.5kW. If you want a system bigger than that your solar credits will reach it's limit at about $5,600. The good news though is that you will be able claim around $560 per additional kW in Certificates Renewable Energy Certificates (RECS).

About the Author
eco-kinetics are quality providers of affordable Solar Power Systems and Solar Panels Brisbane. To find out more about how they help you with the Govt solar credit rebates check out their website today!