Solar Rebates for Central Coast Residents
The solar rebate on the Central Coast NSW falls under the Federal STC solar rebate program, which issues Small-scale Technology Certificates based on the size of the solar system you install and the postcode you live.
An example in dollar terms would be the rebate on a 6.6kW solar system in 2023 which amounts to $2,844. That saves you about 29% off the price of installing the system.
The rebate varies depending on the current STC trading price and when you install the system.
How do I calculate my solar rebate?
The STC rebate can be calculated using the following formula:
Solar system size (kW) x Zone Rating x Deeming Period (years) = Number of STCs (rounded down) x STC price.
Example: 5kW x 1.382 (postcode 2260 in zone 3) x 8 years = 55 x $39.50 = $2,172
Why 8 years? – Because the solar rebate Scheme finishes in 2030, so it has 8 years left.
What is 1.382 number? – This is the multiplier for STC zone 3.
Is there a solar battery rebate in NSW?
Currently, there is no battery rebate available in NSW, but there are a host of other incentives offered by the NSW government, including:
- Household energy saving upgrades
- Solar for low income households
- Household energy saving upgrades
- EV purchase stamp duty saving
Vist the NSW government page on rebates, grants and schemes here: https://www.energy.nsw.gov.au/households/rebates-grants-and-schemes
When is the solar rebate ending for Central Coast Residents?
The solar rebate ends on December 31st, 2030. The solar rebate is reduced each year as payouts are based on the deeming period. So the faster you install a solar system, the larger the rebate.
What is the rebate swap in NSW?
If you are a low-income earner currently taking advantage of the NSW government energy rebate, you can swap that for a fully installed 3kW solar system free of charge.
For eligibility and guidelines to take advantage of this offer, register your interest here on the energy.nsw.gove.au website.
Is the Solar rebate reducing in 2024?
Each year the solar rebate in Australia is reduced until it is eliminated in 2030. In 2024, the deeming period will drop from 8 years to 7, which will in turn reduce the amount of rebate you receive.
Because rebates are calculated based on one STC is the equivalent of 1 megawatt-hour (MWh) of renewable energy. The longer you install solar panels before the 2030 cut-off, the more energy your solar system will produce and the more STCs you’ll receive.
Below is a table showing the STCs and rebates you can expect by system size on the central coast in 2023 vs 2024.
Is the solar rebate worth it?
The solar rebate is most definitely worth it. The initial cost of going solar is quite high, with the average 6.6kw solar system costing about $8,386. When you apply the rebate, the price comes down to $5,500. A saving of $2,844.
The average home’s return on investment for a typical 6.6kW system is 3 – 4 years. Considering the warranty life of solar panels are 25 years, it’s definitely worth the initial outlay.
Do I need council approval to install solar panels in NSW?
You do not need council approval or Development Approval from the council to install rooftop solar panels on the Central Coast. Solar is encouraged and incentivised, so there are no restrictions on this type of installation.
Difference between solar rebates and feed-in tariffs
Solar rebates are a government scheme that gives you a fixed upfront rebate amount at the time of installing your solar system. This is a one-off payment.
Solar feed-in tariffs are paid to you by your energy provider for excess energy generated and fed into the grid. They give you a fixed dollar amount per unit of electricity you feed into the grid. At night when your solar system is not generating power, you can draw power from the grid at slightly more than you were paid.
