Solar with humm

They are small scale Renewable Energy Scheme and feed in tariffs.

Small scale renewable energy scheme

Location available ACT, NSW, NT, QLD, SA, TAS, VIC, WA.

Households and small business across Australia that install a small scale renewable energy system (Solar, wind or hydro) or eligible hot water system may be able to receive a number of Small-Scale Technology Certificates (STCs). The number of STCs you receive depends on the expected output of the installation over the course of its lifetime as well as the geographical regions of the premise.

Roughly speaking you can expect around 12.5 STC per kW – at an average value of $36 per STC or $447 per kW. This will change every January as they are slowly phased out – STC’s are scheduled to end in 2030. In 2022 rebates can be calculated on 10 years of operation. Each year the calculation will remove 1 year of operation until 2030. So approx. 10% per year reduction of the rebate can be expected.

These STCs can be sold to electricity retailers, who are acquired by law to purchase a quota of STCs each year. The easiest way to sell these certificates is by allowing your installer to sell them on your behalf in exchange for a lower return.

Feed-in tariffs

The feed-in tariff you receive will depend on your location, tariff type and retailer.

Solar panels alone don’t store electricity collected from the sun, meaning any energy you don’t immediately use will feed on to the energy network. In exchange for this, your energy retailer and the state government will supply you with a feed-in tariff, which is a small rebate on your electricity bill for each kWh your solar system exported.

Other rebates you might be eligible for

There are federal and state rebates available for rooftop solar and battery storage which can significantly reduce the cost of purchasing and installing a solar system.

To check your eligibility, visit the Federal Government’s energy rebates webpage.

Generally, when you receive a quote for a solar or battery storage system, the retailer will show any rebate amount that you are receiving.

Your solar provider should consider the best product for you based on your individual situation and quote you a price accordingly.

Finding the best solar panels will usually come down to quality, cost and sustainability.

What to look for?

• The solar panel supplier has an Australian office
• The solar panel supplier certification and warranty
• The output of the panel, older panels will have a lower output
• The Type of solar panel, monocrystalline and polycrystalline

A good supplier should be able to provide all the information above for you to choose the best solar panels for your need.

The amount of money a household can save with solar panels is affected by:

• Energy consumption
• The size of the solar panels or the solar system
• Where you reside
• The feed-in tariff
• The usage pattern

Typically, a Solar system will account for a 40% – 60% reduction on your overall power bill. It is important to remember that Solar can only replace energy you already use – or sell the excess via a feed in tariff. There are fixed charges on your power bill, likely daily and standing charges that will not be reduced by installing solar.

Use our calculator to determine your savings.

The solar installation time can vary

• Start by choosing an experienced company
  
• Arrange a general visit; a representative will come and evaluate your home and energy needs, the direction and size of your roof to coordinate the placement of your solar panels. This process takes about two weeks. At this stage there should be an agreement that outlines the products to be supplied and a date should be set for the work to start after completion of the cooling off period.
  
• The solar company can then request with the relevant approvals from the local network distributor (these vary from state to state) for the size of inverter and any storage that will be installed. This process takes between one week and a month depending on which distributor you are situated in.
  
• The Solar installation Company should also notify your electricity provider to tell them that the addition of a small scale generation assets (Solar System) is being installed at your property – this will require a meter change and, in most instances, will likely be charged direct to you by the electricity retailer.
  
• Once your approval is granted, the solar installer can allocate the equipment outlined on the agreement that is required to complete the installation. Depending on the availability at the time, or if the equipment is coming from overseas this process could be delayed, however the agreement at point of sale should outline if any delays are likely to occur. This should be factored into the decision making process. Most reputable Solar installation companies will have access to stock within a couple of days from local wholesalers or their own warehouses.
  
• The next step is scheduling the actual installation. Once a date is agreed upon, the process will only take a day for up to 6 weeks for the installation, but can depend on many factors such as the type of solar system (micro inverters or optimised panels will take longer), the location of the solar panels (very steep rooflines or 2 storey properties are difficult to work on and require additional safety protocols), the electric meter, and may require more time because it requires additional work or you are having a battery installed along with your solar.
  
• Post installation you may be required to wait for the solar system to have an inspection before being able to have it switched on and generating free electricity from the sun. Once the system is switched on – there is no more to do, other than check your bills to see the reduced amount spent on your power.
  

Installing solar panel cost and price vary widely and can be affected by multiple factors

7 factors that can affect the cost of solar per household

• Rebates & incentives
• Types and number required of panels
• Size and type of inverter
• What is the roof made of for instance, metal or tiled and the accessibility of roof and its height
• Solar installer cost
• Framing equipment and other components
• Service warranty and agreement, it is recommended that you purchase a solar system that is affordable and suits your energy needs. Humm BNPL is a great way to help you benefit from spreading the cost over time, while the savings over time from your Solar system help contribute towards the cost