Should I install Solar Now in NSW or Wait?

Thanks for visiting our website. For us to continue writing great content, we rely on our display ads. Please consider disabling your ad-blocker or whitelisting our website before proceeding.

If you purchase an independently reviewed item through our site, we earn an affiliate commission. Read our affiliate disclosure.

Solar power is a popular option for people who want to reduce their carbon footprint and save money on electricity bills. However, with the current New South Wales government plans to increase feed-in tariffs, the decision to install solar panels is a big one. It’s not just the initial cost and installation but also the ongoing maintenance and upkeep that comes with it. Before making this decision, you need to know how much energy you use in your home each year and what type of system will work best for your household. If we’re talking about installing solar panels now or waiting, there are many factors involved, such as timing (location), current legislation (NSW), and government incentives (PV).

In this article, we’ll explore what these changes mean for NSW residents and when you should consider installing solar panels in your home. 

NSW Solar Rebate

In NSW, the solar tax credit is a government incentive that gives substantial cash discounts off the cost of their solar systems to homeowners. This is designed to get Australians to abandon fossil fuels in favor of greener alternatives.

The typical NSW solar rebate or discount given on a solar power system in NSW is $3,250. The amount can vary depending on where you live and what type of utility service your home was previously connected with. Still, it’s typically higher for areas that lost electricity from an outage and those closer to renewable energy sources like wind farms which generate more powerful gusts than coal-fired plants do! The NSW solar rebate will be determined by the size of the solar power system being built. The most popular solar system installed in NSW is a 5kW system, which currently has a $2,994 incentive from the government.

How Much is the NSW Solar Rebate

The 5kW solar kit with a small-scale technology certificates scheme would cost around $2,994 at current rates, even disregarding any state-level rebates and discounts.

Take note of the following three points highlighted in the rebate estimate above: location, size of the solar kit installed, and current market value for small-scale technology certificates.

The following three forces have a significant impact on the calculation of solar discounts in NSW, so let’s look at them in more detail:

Solar System size Number of STCs Gov. Rebate in NSW System Price After Rebate
1.5Kw 22.5 $886.50 $2,950
3Kw 45 $1,773 $3,690
5kw 76 $2,994 $4,450
6Kw 91 $3,585 $5,166
6.6Kw 100 $3,940 $5,570
7Kw 106 $4,176 $5,684
10Kw 152 $5,988 $7,890

 

What requirements determine my NSW solar rebate?

Small-Scale Certificates Price

  1. In NSW, how are STCs calculated?
  2. What is the rebate amount for STC in New South Wales?
  3. What are the potential benefits of claiming the NSW solar rebate?

 

Is there any state-level NSW solar rebate?

  1. Solar for low-income households in New South Wales – What is it and how does it work? Who is eligible?

What Is the Maximum NSW Solar Rebate I Can Get?

NSW solar rebates can be obtained through the STC program at the national level and individually funded NSW government STCs. While the precise rebate amount cannot be quantified, you should anticipate receiving at least half of your solar system’s cost covered using one or both of the rebates offered by your solar vendor or installer.

However, a study of past and current figures for both local and STC rebates indicates that you should anticipate receiving at least $2,500 in NSW as a rebate. The cost of a solar power system can range from $7,000 to $30,000 or more, depending on the size and type. For example, in Australia, purchasing and installing a regular 5Kw solar power system should not exceed $7000, with STC rebates claimed at the point of sale as discounts. This is somewhat more expensive than most people outside Australia would pay for the same system, but it’s still highly affordable.

In Australia, a solar power system with installation charges would cost anything from $11,000 to $13,000 in neighboring New Zealand; this is due to the influence of Australian solar rebates on solar prices. With falling worldwide solar costs and local NSW incentives on things like battery storage and Feed-in Tariffs, the surge in solar installations in NSW is easy to comprehend. The Feed-in Tariff will repay you for your investment.

To acquire a thorough knowledge of the number of rebates you may receive in NSW, make sure you inquire about rebates as well as any solar product quotations you get. It’s also a good idea to keep an eye on the Energy NSW website and Clean Energy Council updates, as well as any changes made by Australian authorities.

Solar Panel Installation Cost in NSW

The cost of putting up a solar panel system will be determined by the size of the installation you require, the firm that will install the system, and the amount of tax credit your state offers.

The average cost of a solar system installed is $4,633. Priced quoted by companies always include installation.

The cost of solar panel systems after the government incentive has been applied/subtracted is known as the “post-rebate price.”

The solar rebate, often known as the STC program, is a government incentive for homeowners who install solar panels.

The rebate offered by the state governments is determined by a variety of criteria, including the number of solar panels you are purchasing, your location, and the year of installation.

⦁ How many solar panels are you buying? It all depends on the kW capacity you wish to have for your home. The incentive is only valid for systems with a total capacity of less than or equal to 99.9 kilowatts.

⦁ Location – The higher your sunshine, the bigger your solar rebate will be. Because they’ve already divided Australia into four zones, your postcode is required to compute for the solar incentive.

⦁ Year of installation – To become more cost-effective, the government has announced eliminating the solar rebate over time. For example, if you install your solar system next year, you will receive a lower amount of solar rebate than this year. It is lowered each year until it reaches zero degrees.

What else might influence the cost of solar installation?

The cost of going solar in every location is different, and there’s no way to know for sure how much it’ll cost until you get started. There are several steps involved in calculating the actual expense of setting up your solar system. Several factors influence the cost of installing your solar system.

Here are several variables to consider:

Power consumption and electrical demand

To figure out how much power a resident uses each month, you must first calculate the size of the solar system you’ll need for your house and the number of panels required. Suppose you have a lot of electrical equipment in your house, such as a water heater, electric stove, air conditioner, washing machine, electronic gadgets, refrigerator, and so on. In that case, your power usage will almost certainly be higher.

Look at your electricity bills over a year to get an indication. Calculate the average monthly electricity use after looking through your bills for a year.

Roof type

The amount of space accessible to solar panels on a small roof will be lower than that on a more extensive roof. Because less time and equipment will be required for installation, the smaller array you have, your solar system becomes more expensive. Solar panels will function at their maximum efficiency if they are oriented at a 30-degree angle and faced south or west, in which case they will be exposed to direct sunlight. You’ll get the most bang for your buck and avoid any output reduction. If your roof is flat, your solar installer can install brackets to ensure that your solar panels are facing at the proper angle to absorb the maximum amount of sunlight. The height of your roof is another consideration. It implies that if your roof is higher, the installers will have to exercise more caution while working on it and will take longer to complete the job, which may lead to extra costs.

If your roof is unsuitable for solar panel installation, you may personalize it, but this will add to the cost of your solar system.

Roof condition

The foundation of your solar panels is your roof. Your roof must be solid and durable for your solar panels to endure for years to come. The hotter the summer gets, the more solar panels will be able to endure and give you enough power for your house.

It is critical to assess the age and condition of your roof before laying solar panels on it, as if you determine that it is unable to support your solar panels, you may need to make repairs or replacements that will affect the cost of your installation. The following are a few things to look for:

  • Age of your roof – if you have a new roof, it will undoubtedly be more expensive than an old one. However, if you replace your current roof with a new one that is the size and weight of the solar panels on top, there are certain things to consider. Determine its age so you can see whether it still can withstand the weight of solar panels.
  • Loose or broken tiles –Replace those that are damaged or lose their connection, as well as fix any malfunctions.
  • Worn down materials –Before putting your solar panels on, inspect the rest of your roof to see if it has become weak over time.
  • Sealants –Roof sealants, like most roofing materials, may deteriorate over time. Check to see whether any of them need to be reapplied or replaced.
  • Cracks –Most likely, your roof has cracks and open holes that need to be repaired if there are leaks within the home.
  • Roof support –Inspect your roof to make sure the supports are still in place to avoid roof damage that might cause it to collapse.

 

Should I Install Solar Now in NSW, or I should Wait?

Solar power is an excellent investment for those living in New South Wales. When you consider the rising costs of fuel and electricity, as well as getting more rainfall each year with fewer storms, investing in solar can make sense financially even if your home doesn’t have enough sun exposure yet – plan!

For many Australians, the choice is an easy one. They can either rely on their consumption, which will cost them dearly mainly due to high prices at oil refineries around town, or they could take advantage by going green through renewable resources such as wind turbines across state lines where they live? There’s no other option left for people that want lower bills and cleaner air!

Conclusion

The simple answer is to make use of the NSW solar rebate. Solar PV installation prices in NSW have reduced significantly, and you can expect a similar trend for solar panel installation costs in the coming years. As more people install solar panels on their homes or businesses, we will see an increase in demand, which should reduce the cost of components such as inverters and modules (the two most expensive parts). If you’re looking at installing solar now but want some certainty that your investment won’t be wasted if prices rise again soon, then find out about NSW solar rebate.

Subscribe
Notify of
guest
1 Comment
oldest
newest most voted
Inline Feedbacks
View all comments
1
0
What are your thoughts on this article? Please leave your comment.x
()
x
Skip to content