There are several financial incentives the Northern Territory Government offers to drive solar installations among households and businesses. The solar rebates offered aim to make the switch more affordable and accessible while also reducing greenhouse gas emissions. This article will explain the different types of NT solar rebates and incentives along with their benefits.
What are NT Solar Rebates?
NT solar rebates are financial incentives the Northern Territory Government provides to encourage the uptake of solar energy systems. The rebate program is designed to make solar energy more affordable and accessible for households and businesses in the Northern Territory while also contributing to reducing greenhouse gas emissions.
The program provides rebates for different types of solar installations, including rooftop solar panels, solar hot water systems, and battery storage. These rebates can help offset the initial cost of purchasing and installing solar systems. The average solar rebate in the NT is currently $2,554 for a 5kW solar PV system and $5,147 for a 10kW solar system, which can significantly reduce the installation cost for eligible customers. Various factors, including the size of the solar system, the STC zone rating in the NT, and the current STC value determine the actual rebate amount.
Here are some of the NT solar rebates:
1. Home and Business Battery Scheme Overview
This offers grants to households, non-profit and community organizations, and businesses to install eligible solar PV systems with batteries and inverter systems. The Home and Business Battery Scheme currently provides a rebate of $450 per kWh of usable battery capacity, up to a maximum of $6,000 for eligible homeowners. However, the grant cannot be used to install solar systems or inverters that are not installed concurrently with battery systems.
Eligible customers can apply for grants for both their home and business and the scheme is available to all despite their electricity retailer. One of the grant conditions is that all eligible Jacana Energy customers who receive the one-for-one premium feed-in tariff will be transferred to a standard FIT.
2. The Large-Scale Renewable Energy Target
The program known as the Large-scale Renewable Energy Target (LRET) plays a crucial role in promoting and incentivizing investment in renewable energy. It encourages the establishment of solar and wind farms, as well as hydroelectric power stations. This way, it contributes to the growth of clean and sustainable energy generation.
These innovative power stations can produce valuable large-scale generation certificates (LGCs) based on the renewable electricity they generate. These certificates can then be traded and sold to entities that have an obligation to support renewable energy, such as electricity retailers or companies seeking to showcase their commitment to sustainable practices. The goal of the LRET program is to facilitate the production of additional 33,000-gigawatt hours of renewable electricity annually.
3. Small-Scale Renewable Energy Scheme
The Small-scale Renewable Energy Scheme incentivizes installing renewable energy systems for households and businesses. Eligible systems include rooftop solar panels or hydro systems. Owners of these systems can create small-scale technology certificates (STCs) that can be sold to liable entities, mainly electricity retailers, or assigned to the installer in exchange for a reduced price. The demand for STCs as NT solar rebates is created as liable entities are required to surrender them to the Regulator annually. These certificates also offer rebates for systems with a capacity below 100kW, effectively reducing their cost.
4. Feed-in Tariffs
The feed-in tariff is the amount you receive per kilowatt-hour (kWh) for the excess energy you contribute to the grid. This rate is determined either by state governments or energy retailers, according to the laws applicable in the region. It’s important for this rate to be kept at a reasonable level to ensure the smooth operation of power grids. So, the aim is to strike a balance that benefits both you and the utility provider.
Your specific feed-in tariff rate depends largely on your electricity consumption. Generally, the more electricity you use, the lower the feed-in tariff. Additionally, if your solar system produces lower levels of energy, the overall payback could decrease.
Now, let’s explore the two main options for feed-in tariffs:
- Gross Feed-in Tariffs (FiTs): With this option, you feed all the energy your solar system generates back into the grid, and you are paid for it.
- Net Feed-in Tariffs (FiTs): This option involves sending only the surplus energy generated by your solar system to the grid.
Also Read: What is Solar Rebate in Western Australia?
Who can Apply for the Home and Business Battery Scheme?
When it comes to submitting applications, please note that each homeowner and property is limited to one application only.
You are eligible to apply for this scheme if you fall under one of the following categories:
- Registered owner of a home/residential property in the Northern Territory.
- Registered business operating in the Northern Territory.
- Non-profit or business organization functioning in the Northern Territory, whether in an owned or leased property.
If you happen to own both a home and a business, good news. You are permitted to apply for grants for both your home and business.
Before you begin the application process, it’s important to go through the terms and conditions of the scheme and ensure that you fully understand and agree to them.
To successfully apply for the Home and Business Battery Scheme, follow these simple steps:
Step 1: Verify your eligibility by carefully reviewing the terms and conditions of the scheme.
Step 2: Obtain multiple quotes from reputable solar installers who are qualified and CEC-approved. You also need to go through the certification requirements.
Step 3: Once you have selected the installer that suits your needs, proceed to complete the online application form on the government website.
After submitting your application, you will be issued a unique voucher that corresponds to your eligibility for the scheme. This voucher serves as an important document throughout the process.
Also See: Solar Panel Rebates in BC
What is the Current Solar Rebate in NT?
Here is a table that shows solar rebates in NT:
|Solar System Size
|Number of STCs (NT)
|Rebate Amount in NT
Also See: What is Solar Rebate Adelaide Program?
What are the Benefits of Getting Solar Rebates?
Here are five benefits of getting solar rebates:
1. Cost Savings: One of the most significant benefits of solar rebates is the cost savings they offer. NT solar rebates help to reduce the upfront costs of purchasing and installing solar panels, making the technology more affordable for households and businesses.
2. Increased Property Value: Installing a solar power system can increase the value of a property. Solar panels make a home or business more attractive to potential buyers by reducing energy bills and generating clean, renewable energy.
3. Energy Independence: Solar power systems provide households and businesses with energy independence. When you generate your own electricity, you are less reliant on the electricity grid and can avoid price fluctuations and power outages.
4. Job Creation: NT solar incentives can help to create jobs in the renewable energy sector. As more households and businesses install solar panels, the demand for solar panel installers, electricians, and other related professions increases, leading to job growth in these fields.
Therefore, NT solar rebates have motivated people to consider installing solar panels and batteries in their homes and businesses. As you know – what is the current solar rebate in NT, take a step in the right direction toward achieving a more sustainable future.
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