Changes to the QLD Solar Rebate: Act Now to Maximise Your Savings

As we approach the midpoint of 2023, it’s time to take notice of the “haircut” the Queensland solar rebate is about to receive. This change will have a significant impact on potential savings, making it vital to understand how these adjustments could affect your solar power investment. Keep reading to learn more about the upcoming changes and their potential impact.

How Does the Solar Rebate Work in Queensland?

The solar rebate in Queensland operates through the issuance of Small-scale Technology Certificates (STCs). STCs have a monetary value that fluctuates based on market conditions and demand. The number of STCs a solar power system is eligible for depends on factors such as the geographical location of the installation, solar panel capacity, and the year of installation.

Each year, on January 1st, the value of the rebate reduces as part of the planned phase-out. This reduction is often referred to as a “haircut” and affects the upfront discount provided to homeowners. The purpose of this phased reduction is to gradually transition away from the rebate program, ultimately ending in 2030.

The Phasing Out of the Solar Rebate:

The solar rebate scheme was introduced in 2011 and is scheduled to end in 2030. However, each year, the value of the rebate decreases, bringing it closer to its eventual phase-out. As we reach the midpoint of 2023, the rebate is well on its way to completion.

The Impact on Subsidies:

Considering the STC spot prices have remained relatively steady this year, the value of the rebate for a 10 kW solar power system installed in 2023 could be reduced by approximately $500 – $600 compared to installations in previous years. This reduction represents a significant chunk of potential savings.

Why Act Now?

Considering the rebate is tied to the installation date, not the sales contract date, it’s crucial to factor in the installation timeline. With Fallon Solutions, Installation can begin promptly, unlike some dealers who may take weeks. After the initial site inspection and your approval, we can typically install within 7 working days, so you can start saving money free from the sun quicker. The longer you wait, the longer your household or business will be locked into higher electricity bills, as the cost of solar panels continues to rise.

With the rebate gradually phasing out and receiving a yearly “haircut,” acting now to secure quotes and installations is crucial to maximise your savings. By taking advantage of the remaining years of the rebate, you can significantly reduce the upfront cost of a solar power system and enjoy the long-term benefits of clean, renewable energy. Don’t delay—start exploring your options and contact reputable installers today to ensure you don’t miss out on this valuable opportunity.

When considering solar installations, Fallon Solutions is here to help. We now specialise in installing Enphase solar power systems, known for their advanced technology and exceptional performance. With Enphase, you can enjoy benefits such as increased energy production, improved system reliability, and real-time monitoring of your solar system’s performance. Read more about Enphase here.

At Fallon Solutions, we even go beyond installation. We offer $99 solar checks after installation to ensure you are maximising your energy savings. Our team of experts will assess your system’s efficiency and provide recommendations to optimise its performance, saving you even more on your energy bills. Contact us today at 1300 712 028 to get started on your solar journey with Fallon Solutions.