Homeowners are Paying Next to Nothing for Solar Panels

IAIN ADKINS | Contributing Economics Editor
8:32AM Thursday, 22 Apr 2021

Warning: Do not pay your next energy bill until you read this.

This is the 1 simple truth your power company doesn’t want you to know. There is a policy that qualifies homeowners who live in specific postcodes to be eligible for $1000s of Government funding to install solar panels; the Solar Credits Subsidy*. Has your power company told you that?

The Solar Credits Subsidy is primarily based on Renewable Energy Certificates (RECs), also known as small-scale technology certificates (STCs). Despite often being referred to as a “solar rebate”, the Solar Credits Subsidy is structured differently than other financial incentives in the solar industry. The financial benefit generated from these certificates is included in the advertised solar package costs and offered as a point of sale discount. Ultimately, this saves you the hassle of having to post-purchase the certificates, and also reduces the initial capital outlay.

When homeowners check whether they qualify at 3Quotes, many are shocked that this subsidy could cover a lot of costs associated with the installation. So with a lot of help from the government, you could be on your way to significantly reducing your electricity bill in a matter of weeks.

Steven Jenkins, an authority on everything related to Solar Energy replacement, set out to do some research and determine whether this program lives up to its reputations. A year after installing solar Steven was able to report back on his findings, with his most exciting of which being that he is now going to save $587.87 a quarter on his own energy bill, and there are many other people who have done the same and even better. Some data on the bills below have been blurred due to privacy reasons.

Before solar

After solar

Source: 3Quotes, 6 January 2020

So, how does this program work? Until recently, solar panels cost $1000s of dollars to purchase and install, and unless you were building a new home or had that much extra cash sitting around, the cost was more than the benefit. The solar panels had to be purchased with no help, these days the Australian solar credits program helps everybody...

Does this mean Steven was being misled by his power company? He would not say one way or the other, but the truth is pricing for solar panels has lowered drastically in the last 5 years, leaving solar panels affordable for consumers who could not afford to switch to solar power. Either way, one thing you can be sure of, however, is that your power company is not going to call you up to inform you of this program.

NOTE: You are not locked into your power company policy if you've already paid your current policy, you can cancel very easily and the balance will be refunded.

With average savings of 50%, these online services are gaining massive popularity. One of the most trusted, secure and effective free online service that provides homeowners the best local rates is 3Quotes. Over 250,000 consumers have already trusted 3Quotes to get significant discounts. If you too would like to receive the benefits of using this free service you can click here or the button below. Then just enter your state information and click continue to determine if you're eligible.

How do I see if I Qualify?

One of the most trusted, secure and effective free online service that provides homeowners with the best local rates is 3QuotesTM. Over 250,000 homeowners have already trusted 3QuotesTM to get quotes on solar. If you too would like to receive the benefits of using this free service simply follow the steps to determine if you're eligible.

Step 1: Click your state on the map to instantly check your postcode for free

Step 2: Once you go through a few questions, you will have the opportunity to compare the best quotes in your area. Select your state below:

* http://www.cleanenergyregulator.gov.au/RET/How-to-participate-in-the-Renewable-Energy-Target/Financial-incentives