There is no denial of the fact that the fossil-fuel electricity generation is getting more expensive with every passing day. Thus, with the consistent rise in electricity bills, it becomes more imperative to explore the renewable source of energy. Opting for solar system installation is one of the easiest methods to cut down electricity cost.
The Australian government is offering ample rebates program to households and businesses as a part of the Renewable Energy Target (RET) and solar bonus scheme. The main goal behind introducing these schemes is to increase the electricity production through the renewable source and reduce the greenhouse gases emission.
The RET scheme is divided into two parts:
- Large-scale implementation of renewable energy
- Small-Scale Renewable Energy Scheme (SRES)
Many small and medium businesses that are opting for commercial solar system installation will be eligible under SRES. One needs to be aware of the fact that the commercial solar system installation cost includes more than just buying and installing a solar system. It also includes:
- Connecting your solar system to the electricity grid
- Replacing existing meter
- Capital works including wiring and structural work
- Ongoing system maintenance.
Just like any other business expense, it’s always a good idea to do your due diligence. Ensure that you connect with a number of accredited installers and get quotes. Also, make certain to ask your installer about the alternatives to paying up-front for the solar system installation.
Feed in Traffic – FIT
Under this incentive, you are able to sell the electricity generated using your commercial solar system. In Queensland, electricity retailers pay up to 12 cents for every kilowatt-hour of electricity exported back to the grid.
Before enrolling your business for this incentive, you need to weigh down the financial benefits first. For small and medium business, the real value of the solar system is in using as much electricity generated as possible.
The Difference Between Rebates And FIT
There has always been the confusion between the two incentives. The solar rebate is the federal government funded discount on the purchase of the solar system. While the Feed-in-tariff (FIT) is a payment that you receive on the excess electricity generation via a renewable source and is fed back into the supply grid.
Installing Commercial Solar Systems Can Save You Money!
If you are looking forward to investing in a commercial solar system for your business, GoRunSolar can help you. To discuss your requirements or for any other query, feel free to get in touch with us at 1300856678!