For PV systems the federal government funded financial incentives available are as follows:
• Renewable Energy Certificates (RECs)
• Small scale Technology Certificates (STCCs)
• Feed‐in tariffs (grid connections)
Australian Government cash rebates are no longer available for solar panels. RECs are the only financial incentive offered by the government and are included in the cost of your system. The Number of RECs assigned to a solar system depends on the size and location of the system.
A feed-in-tariff is a rate paid or credited to a system owner for electricity fed back into the power grid from a designated renewable electricity generation source.
Electricity retailers are required to pay at least $0.60 per KWH produced by the solar panels installed before various date. If it is fed to the grid, which is at a premium compared what the electricity retailers sell their conventional electricity (typically $0.20 per KWH). This higher tariff is called the premium feed‐in tariff.
Current feed-in tariffs now vary from zone + 8 cents/KWH.