Under the new RET (Renewable Energy Target Scheme) the government has introduced the new Solar Credits incentive scheme to operate in place of the now expired $8000 rebate under the Solar Homes and Communities Plan (SHCP).

Those wanting Solar Panels from the 10th July over will now qualify under the new solar credits scheme rather than the solar rebate.

The Scheme operates in an entirely different fashion than the SHCP. It has several major differences.

These differences are:

There is no longer a means test
Those wishing to purchase a solar panel system under the previous solar rebate were limited to a means test applicable to households with under a $100,000 combined taxable income. This is no longer the case as all households are eligible for the new funding.

Primary Residences are no longer mandatory
Under the new scheme it is no longer necessary for the household to be a primary residence. Holiday homes, Beach houses as well as rental properties are now eligible for the new solar credits scheme for solar panels.

REC's are multiplied
The Renewable energy certificates are now multiplied by 5 times and take the place of the $8000 rebate as a point of sale discount for purchase of a solar system of up to 1.5Kw.

Businesses are now eligible
Under the new scheme businesses are eligible for the new Solar Credits with their purchase of a solar panel system. Businesses are also eligible for a tax break between 30% - 50% of the price of the solar panel system.

Nothing to hide - here's the FINE PRINT
Estimated savings based on REC’s rates at time of publishing. Assumes transfer of REC’s to Queensland Solar Systems to receive upfront discount.