Green Energy
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Green Energy
Solar Goal Posts Moved Again - Panic Rush About To Start
THE HON GREG COMBET AM MP
Minister for Climate Change and Energy Efficiency
Minister for Industry and Innovation
MEDIA RELEASE
GC 307/12 | 16 November 2012 |
SOLAR CREDITS PHASE OUT TO MODERATE PRICE IMPACT
Due to continued strong demand for household solar, the Federal Government will phase out the Solar Credits mechanism six months ahead of schedule on 1 January 2013. This will lower the impact of the high uptake of solar PV on electricity costs for homes and businesses.
Phasing out the multiplier early will strike the appropriate balance between easing upward pressure on electricity prices and supporting households and suppliers who install solar PV. The overall reduction in electricity bills is estimated to be in the order of $80 to $100 million in 2013.
Installation of small-scale systems and solar hot water heaters continues to be supported under the Renewable Energy Target scheme, with solar PV systems benefiting from generous arrangements that provide support for 15 years worth of generation upfront.
The Solar Credits mechanism has provided additional support for installations of small-scale solar PV by multiplying the number of certificates these systems would usually create under the RET scheme. As this benefit was never available to solar hot water heaters, the phase out puts solar PV and solar water heaters back onto a level playing field.
The multiplier was always designed to reduce over time. Bringing forward the phase-out of the multiplier to 1 January 2013 will help place the industry on a sustainable path and ease pressure on electricity prices. By 2014 the small-scale scheme is expected to cost electricity consumers around 70 per cent less than in 2012.
The carbon price improves the economics of household solar and this change will enhance the complementarity of the RET support with the incentive the carbon price provides. States and Territories are also examining the complementarity of their climate change policies in light of principles agreed by COAG in 2008.
Consistent with a previous reduction in the multiplier announced in May 2011, legally binding contracts to install supported systems, already entered into before today and made on the basis of the current rules, will be preserved. The same applies to systems installed before 1 January 2013. See www.climatechange.gov.au.
Media contact: Mark Davis, Gia Hayne 02 6277 7920
If you need clarification as to how these new rules apply to your solar decisions call Green Energy WA today - 1300 882 551 or visit www.gewa.com.au
- Where Is Your State In The Solar Race?
Solar households now represent almost 1.7 GW of installed capacity says Professor Ray Wills, chief adviser to the Sustainable Energy Association (SEA). The impressive tally, gained from data up until the end of March sourced...
- Australia Hits The 1 Million Mark!!
In our latest Green Energy WA news. Australia has reached one million rooftop solar systems installed on homes and businesses, capping off a massive rise over the past decade of federal and state incentives. Time to buy solar?The one million mark was...
- One Million Up For Germany!
Germany's Millionth Solar Power System Installed 21 years after an ambitious program was launched in Germany to promote the uptake of solar, the nation's 1 millionth solar panel array has been installed. According to the German Solar Industry...
- Green Energy Wa Solar Energy
As we all know, consuming massive amounts of electricity everyday has become a natural process and a part of everyone’s life, but along with the technology progress, we can now use Green Energy WA, an Australian owned solar power installer, solar energy...
- 80,000 South Aussies Switch On To Solar
A new report from the Essential Services Commission of South Australia (ESCOSA) estimates 80,000 electricity customers in the state will have installed solar panels by December this year. This figure represents around 10% of all small electricity customers...