Federal Government Rebates
The upfront capital cost of a solar hot water system (including installation) is higher than electric or gas water heaters but savings on energy bills will compensate for this over time. In fact, many solar hot water systems pay for themselves in less than their warranty period.
However, a more important consideration is the environment and the pressing issue of global warming. A typical solar hot water system will save around 3 TONNES OF GREENHOUSE GASES every year compared to an electric water heater using electricity from a coal-fired power station. Imagine what an impact that would have on our greenhouse emissions if every home had a solar hot water system installed.
For these reasons, Federal and State Governments are encouraging the adoption of greenhouse friendly hot water systems and the following rebates are available:
- For details about State based rebate programs, please click on the corresponding state on the map.
- For details about Federally based rebate programs, please see below.
The Australian Federal Government:
Renewable Energy Certificates (RECs)
With the introduction of the Renewable Energy (Electricity) Act 2000, a new form of “currency” was introduced by way of Renewable Energy Certificates (RECs). Under the Act, a Mandatory Renewable Energy Target (MRET) was implemented which forces energy retailers to obtain part of their energy supplies from renewable sources in order to meet the target. If they are unable to do that they can offset an equivalent amount of energy by purchasing RECs which are, in turn, created by the installation of renewable energy generating appliances like solar electric panels or energy offsetting appliances like solar hot water systems.
For solar water heaters and solar electricity systems one REC represents the equivalent of one megawatt hour of renewable energy generation. To be eligible, solar water heater manufacturers must submit their products for testing in Government approved laboratories. The more efficient they are, the more RECs they are awarded. Because of the efficiency of our products, Chromagen solar systems generate some of the highest RECs available.
RECs are bought and sold on the open market and Chromagen is a registered REC agent who will buy your REC credits back with the least of fuss. REC prices consequently fluctuate up and down according to the economic forces of supply and demand.
Purchasers of solar hot water systems are entitled to receive the allocated RECs and can sell them on the open market if they so desire. However, most people choose to assign the RECs back to the manufacturer or retailer for an agreed price which, in effect, amounts to a point-of-sale discount or de-facto rebate. You should discuss the question of your RECs discount with your local Chromagen distributor at the time of your purchase or contact us.
Chromagen is currently offering $35 per REC point.
Price is updated daily.
Prices are subject to change.
REC Calculators
REC’s calculator for Solar Hot Water
REC’s calculator for SGU (PV, Wind, Hydro) systems
For further information and opportunities on REC’s,
contact Chromagen today on 1300 367 565
The RECs scheme is administered by The Office of the Renewable Energy Regulator (ORER) in Canberra and full details are available from their website at www.orer.gov.au.
Solar Hot Water Rebate Program
As of 19 Feb 2010, The Solar Hot Water Rebate scheme has been discontinued. The scheme will be replaced by a Renewable Energy Bonus scheme. More infomation will be avalible soon.
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