RECs & Rebates
Water heating via a standard electric hot water system, is the largest single source of greenhouse gas emissions from the average Australian home. In an effort to reduce Australian greenhouse gas emissions the Australian government has put in place a number of generous rebates for consumers. These rebates provide significant financial incentives for purchasing sustainable hot water systems. Rebates are eligible to households when a solar or heat pump hot water system is installed replacing an existing electric hot water system.
Government rebates appear in 3 forms:
Renewable Energy Certificates (RECs)
A Renewable Energy Certificate represents the equivalent of one megawatt hour of electricity generation from an accredited renewable energy source. Every solar and heat pump water heater has been assigned a REC value based on how much non renewable energy you displace using a solar/heat pump hot water system. With the intent to increase the amount of electricity generated by renewable sources the federal government implemented this incentive.
Each REC is assigned a monetary value. These RECs can be traded, purchased or sold. RECs are based on the efficiency of the system, simply meaning the more RECs the more efficient the system is deemed to be.
To find out how many RECs are given to an Apricus Solar Hot water System click here.
Get the current value of RECs and to learn more about visit www.orer.gov.au
To download your RECs application form visit Green Bank.
To download your RECs application form visit Green Bank or Moss Capital
Federal Government Rebate
The Federal Rebate has recently changed on 19th February 2010 from $1600 to $1000. The new Renewable Energy Bonus Scheme has replaced the Home Installation Program and the Solar Hot Water Insulation Program. Both of these programs were discontinued on 19th February 2010. As of the 20th February 2010 a $1000 rebate is available for the installation of solar or heat pump hot water systems when replacing an existing electric system. This rebate is not applicable for new homes. This incentive is available to eligible homes up until 2012.
To learn more about Federal Government Rebate and download your application form visit www.environment.gov.au/energyefficiency/solarhotwater
State Rebates
NSW
As of the 15th of January 2010 the NSW State Rebate of $300 is available for Solar Hot Water Systems installed when replacing an existing hot water system.
For more information and to download your application for visit www.environment.nsw.gov.au/rebates
QLD
The Queensland government have introduced a rebate of $600, available for installation of Solar Hot Water Systems replacing electric storage heater.
Low income earners are eligible for up to an $1000 rebate for the Queensland government under the same scheme.
For more information regarding Queensland government rebate and eligibility visit http://www.cleanenergy.qld.gov.au/solar_hot_water_rebate.cfm
To download your application form click here
VIC
There are three rebates available in Victoria;
- The Metropolitan Melbourne Solar Hot Water Rebate, available from $300 to $1500
- The Regional Victorian Solar Hot Water Rebate, available from $400 to $1600
- The Victorian Energy Saver Incentive (VEET).
The VEET Victorian Energy Saver Incentive are available when approved energy efficiency technologies are installed and Victorian Energy Efficiency Certificates (VEECs) are created. These VEECs are assigned a monetary valve which can then be traded. The number of VEECs generated is determined by several factors:
- Efficiency of the system
- The type of system it is replacing
- The geographical location of where the system will be installed
The Victorian Government are also offering rebates of up to $1600 for bushfire affected communities.
For further information on eligibility of Metropolitan Melbourne Rebate and the Regional Victorian Rebate visit http://www.esc.vic.gov.au/public
For further information on eligibility on VEETS and to download your application form visit http://www.esc.vic.gov.au/public/VEET/Victorian+Energy+Efficiency+Target+scheme
SA
The SA Government Solar Hot Water Rebate Scheme offers eligible applicants with a rebate of up to $500.
For further information and eligibility visit http://www.dtei.sa.gov.au/energy/rebates_and_grants/solar_hot_water
WA
The WA Solar Water Heater Subsidy offers eligible applicants a rebates at two different levels:
Gas boosted solar water heaters connected to a reticulated gas network ($500)
LPG gas boosted solar water heaters where reticulated natural gas is unavailable ($700)
For further information and eligibility please visit http://www.sedo.wa.gov.au/pages/subsidy.asp
TAS
No additional rebates are available from the Tasmanian Government.
Hobart City Council does offer a rebate of $500, to eligible home owners.
