We understand that it’s a big decision to switch to solar energy and a lot of people think it’s an investment that they can’t afford. At The Green Guys Group we offer 3 financing options to help you implement your desired solar energy system. We also ensure that your solar energy project will be considered for various government solar subsidies in the form of rebates and incentives. Learn more about our financing options and solar subsidies below.
The Green Guys Group Solar Financing Options
The Green Guys Group offer three solar financing options:
1. Purchase your system outright.
2. Take out a solar loan to buy your system – this is usually a lease or chattel mortgage, or personal loan, or;
3. Make a Solar Power Purchase Agreement (PPA) with The Green Guys Group.
We can help you assess the costs and savings of each solar financing option; its calculations are based on your roof plus real quote data for your area. Most financing options are no deposit financing and the savings in some cases are cash flow positive with the system being paid off in 5-7 years, leaving the remainder of the systems life (25+ years) to pay an exceptional return. Speak to one of our experts now >>
Government Solar Subsidies
Federal Solar Incentive
The Renewable Energy Target (RET) is the main driver of solar subsidies at the Federal level. This subsidy is supplied in the form of rebates through Renewable Energy Certificates (RECs). This rebate for solar installations and is available anywhere in Australia. RECs come in 2 forms: Small-scale Technology Certificates (STCs) for renewable energy generators up to 100 kilowatts (kW), and Large-scale Generation Certificates (LGCs) for systems whose capacity is greater than 100kW.
In simple terms, when you install a solar system it creates renewable energy credits. Energy retailers have to buy these credits to offset their black energy. The energy retailers then pass this cost on to everyone in their electricity bill. The myth that the government funds this scheme is incorrect, they simply administer the scheme.
Every year the number of STC’s that can be created upfront known as the deeming period of 15 years reduces by 1/15 each year until the Scheme ends in 2030. (2016 was the commencement of the deeming period reducing each year. 2017 equation is now 14 years, 2018 is 13 years and so on). What that means is every year you wait to get solar the incentive you will receive to offset the purchase of Solar system reduces. Based on an STC price of $37, a 5kw system (Zone 3) in 2017 produced just under a $3500 Solar Incentive.
Another factor to consider is the price of the certificates which depends on the current solar demand. Too much demand and the prices fall. Since the scheme commenced the price of STC’s has ranged from $40 to $16. The STC price currently offers an opportunity to benefit well from the Solar incentive as the price has recovered well from its previous lows. The incentive is given at the point of sale by your solar installer in return for you assigning the rights to the certificates. Your solar installer will aggregate all the certificates from many installations and in most cases will sell them to energy retailers taking the hassle out of it for the purchaser.
State Solar Incentive
In addition to RECs, most states also offer support for solar and other renewables via Feed-in Tariff schemes. Under these schemes system owners are paid for each unit of power that they export to the electricity grid. Eligibility for Solar Feed-in Tariffs depends firstly, on whether a state or regional scheme is in place, but other factors include date of system installation and system size. Speak to our team and find out if you’re eligible >>
Still unsure?
Let us help you out.
We would love to have a chat with you to see how we can assist you in finding your perfect solar energy solution and to help you better understand the government incentive schemes. You can request to have one of our specialists give you a call so that you can ask all your questions, and have them answered.