On 17 February 2014, the Federal Government announced that it would be undertaking a major review of the Renewable Energy Target (RET).
So what does this mean for solar power?
The Small-Scale Renewable Energy Scheme (SRES) is part of the RET, and should the RET be scrapped following the review, then the upfront STC discount will likely be abolished. The report is due back by the middle of the year. As the official appointed to head the review is a well known climate change denier, many experts in the industry expect that the report will not be favourable towards keeping the Renewable Energy Target. If that is the case and the STCs are scrapped, consumers can expect to pay a lot more for their solar power systems. For example, at the current STC price, the upfront discount on a 5kW system is around $3,000.
If you have been thinking about installing solar power, we recommend that you do it sooner rather than later, before the STCs disappear. Contact City to Surf Solar+ today to arrange a free site inspection- 1300 348 847.