For many homeowners and small businesses, the thought of going more “off the grid” and saving money on your electricity bill is quite appealing and for good reason! Solar Power is changing the lives of millions of Australian families, helping them to reduce energy costs and increase the value of their homes. The market is currently inundated with suppliers and installers and now even government programs incentivising various aspects of solar energy, so where do you start?
It can be an overwhelming to get your head around it all, so it’s crucial to know what you are getting into and more importantly what solar solution among the sea of options is right for you and your circumstances. This is where consulting with an experienced and accredited supplier /installer like Halcol makes all the difference.
A simple consultation with someone from our solar specialists’ team will help you to understand how solar power works and talk you through the options available. Halcol Energy is committed to ensuring that you get the very most out of the Government Incentives as well as all finance options available to you.
Grants and Incentives are great, and they do add value and savings for household and businesses who meet specific criteria pertaining to battery storage. For those who don’t meet the specified criteria, there ARE alternate solutions available that could in fact be a better option for you specific energy and financial requirements.
Let’s go through options that are available to you through Halcol Energy;
Option 1. The Qld Government Battery Grant and loan – applications nearly closed.
The Queensland Government has made Solar Battery rebate grants and loans available as of November 19, 2018. The programs have been established to help households and businesses to cut their power bills by installing solar batteries and storing their excess solar power.
Households can apply for a $3,000 grant to purchase solar and a battery or an interest-free loan of up to $10,000. For solar alone, interest-free finance is available for $4,500.
*Limited number of grants and loans available from the Qld government. First in, best dressed.
The government has designed these loans to be accessible for everyone. Repayment options can be discussed once a quote is secured. Terms of up to 10 years are available, with no penalties for early payouts.
It’s also important to note that batteries may not be the solution for everyone and you should consider whether the savings generated over the life of the battery cover its cost and deliver the benefit you are expecting.
Option 2. Easy Payment Plans and Financing through Accredited Providers Like Halcol
Payment plans and financing options are a great way to go solar. Depending on your individual solar needs, they can work out to be a better option than the Government loans described above. It’s important to note that not all payment plans, or companies are created equally, and we advise you to you take the time to research options. For instance, some solar companies offer “Zero” interest finance. However, in many cases these companies inflate their prices, so they can cover their Clean Energy Council accreditation, this means you could end up paying more. When considering the types of payment plans it’s important to know exactly what you’ll end up paying over the term of the plan.
Halcol provides an honest and upfront financing option that’s provides the following benefits from day one:
- Zero deposit
- Cashflow positive from day one
- A typical pay-back time of 2-4 years
In addition to these loans, we can facilitate the STC incentive process and discount your quote accordingly – giving you instant savings
The Small-scale Technology Certificates Incentive (STC’s)
The Australian Federal Government offer a Small-scale Technology Certificate STCs incentive which can be used against the initial cost of installing your system. The STC incentive is part of Australia’s Renewable Energy Target. What this essentially means is that, every megawatt hour of qualifying energy generation from your solar energy system is eligible for renewable energy certificates (RECs). It’s these Small-scale technology certificates (STCs) that apply to residential solar installations.
Simply speaking, an STC can be thought of as a kind of ‘discount voucher’ on the cost of installing your solar system.
The amount of the incentive you’ll receive is based on three factors.
- Zoning – The area you live in.
- The STC Dollar value – as set by the Clean Energy Regulator which fluctuates according to supply and demand.
- The deeming period – which decreases each year
The Clean Energy Regulator sets the market size for STCs each year after deciding how many small-scale renewable energy systems they anticipate being installed in the coming year. When the market looks like it’s in line with CER projections, supply meets demand, which in turn stabilises prices. Prices have remained stable for the last few years, with STCs staying around $37 each.
So how do you decide which option is best?
There are some great incentives available to all households and small businesses looking to go solar. It’s important to consider your needs and understand all options available to you and your household.
Many new solar companies offer “zero interest” loans, however, some companies offset this by inflating the price of their systems. It’s important to apply your due diligence and to research your options. We strongly recommend that you go with a name you can trust! Trust that your investment is securely installed and quality assured.
Halcol Energy have been around since 2009 and have helped over 6,000 homeowners across South East Queensland find energy independence. Our team can provide you with a straightforward assessment and quote on your solar options. Making sure you get the most out this awesome clean energy source and save money in the long run.