Brief – 11 August 2010 – The federal government will provide financial incentives for households and businesses to invest in off-grid systems as part of changes to the Renewable Energy Target legislation.
The new system relies on the “Solar Credits” scheme multiplier to provide the financial incentive for people in remote areas to invest in off-grid systems. For grid-connected systems, the Solar Credits scheme allows households and businesses to create and sell five times the amount of Renewable Energy Certificates (REC) for systems up to 1.5 kilowatts in capacity.
For proponents of off-grid systems, the Solar Credits REC multiplier will now be eligible if you are installing an off-grid system up to 20kW in capacity. The multiplier itself reduces over time (by a factor of one) between mid 2012 and mid 2015.