You may be wondering, does solar stack up in Canberra? Solar energy is very popular in the ACT and Canberra. Actually, it is estimated that 39,000 or more homeowners and businesses have already installed solar panels on their rooftops. This equals around 20 to 30% of the residents.
Thanks to the rebate schemes, the installation costs have been relatively low over the last few years.
Today, the size of the financial rebate is not as big as it was some years back. But at the same time, solar panel systems are more affordable than they once were.
So, this might make you wonder: as an investment how does solar stack up in Canberra? Should you invest, or is it no longer beneficial?
Solar rebates in Canberra
To answer whether a solar panel system is an investment worth diving into or not, it is necessary to take a closer look at the solar rebates you might get.
The better the rebates, the less money you need to spend on the installation.
The federal STC rebate
When the Australian government first introduced us to Small-scale Technology Certificates (STCs) back in 2011, renewable energy systems were still very expensive. The rebate scheme was initiated to make it possible for more Australians to invest in renewable energy.
The rebate you get is based on the number of STCs your installation is generating. A bigger solar panel system will mean more STCs. On top of this, the number of certificates will differ from STC zone to STC zone.
Canberra and ACT as a whole are in STC zone 3. This is, unfortunately, not the best zone to be located in. Australians in STC zones like 2 or 1 will get more STCs. But the Canberra STC rebate is also bigger than the one you would receive in STC zone 4.
But even though your household is in zone 3, the rebate will still pay a great part of the gross cost. So, the rebate may not be the best, but it is still good!
Are there any state rebates in Canberra?
Yes, and this is one of the reasons that solar panel investment might be a really good idea in the ACT. Not many Australian governments offer local rebate schemes, but incentives still exist in the ACT.
The Home Energy Support Program provides up to $5,000 in rebates for eligible homeowners to help with the upfront costs of installing energy-efficient products. This includes:
- one rebate of 50% of the total installation price, up to $2,500, for rooftop solar
- one rebate of 50% of the total installation price, up to $2,500, for:
- reverse cycle heating and cooling
- hot water heat pumps
- electric stove tops and ovens
- ceiling insulation
If eligible, you can combine the rebate with a zero-interest loan through the Sustainable Household Scheme of up to $15,000 to help with the remaining costs.
So, how much will a solar panel system cost in Canberra?
After the rebates have been applied, you can expect a 6 kW system to cost you around $5,470. This is a good price if we compare it to the installation costs in other parts of Australia.
How effective can you expect solar energy to be in Canberra?
Canberra has a great climate for solar energy systems. On average, the rooftop of a Canberra home will receive around 4.8 hours of sunlight. If you invest in a 7 kW solar panel system consisting of 19 to 22 solar panels, the system is expected to produce 25.2 kW a day.
Most households in Canberra will typically use between 15 to 25 kW of electricity every day. So, it is very likely that your solar panels will produce all the energy your household needs during the year.
PS. You will usually achieve a maximum solar energy effect if your solar panels are oriented north and at an angle of 30 degrees.
Reduce your electricity costs
With solar panels that generate all (or most) of the power you need, you will of course spend less money on electricity. This is one of the reasons a solar panel system is such a good investment in Australia.
After 4-5 years, the solar system will usually pay for itself. The return on investment is considered to be really good.
And remember, if you have a solar system you might also receive a feed-in tariff if you send excess power to the grid. This will let you save even more money.
Conclusion: How does solar stack up in Canberra?
In the ACT and Canberra, solar panel technology will in most cases be a very good investment. You can expect to receive different rebates, from both local and federal governments. The system will also reduce your electricity costs in the long run.
The solar panels will pay back after a few years, and over time it will be beneficial as you will save a lot of money.
Find an approved installer and a CEC-listed solar panel system, and get your rebates.