Solar panels ACT

Are solar panels worth the investment in Canberra?

by Solar Choice Staff on June 18, 2013

in ACT,Solar and Renewable Energy Policy,State Government solar feed-in tariffs

Changing incentives for solar power both on the federal level and in the ACT have led many ACT residents to wonder: ‘Are solar panels worth it in Canberra?’. The short answer is ‘yes’–and they are likely to continue to be an attractive investment well into the future.

To instantly compare solar PV system prices for your area of the ACT, fill out the Quote Comparison Request form to the right of this page. You can also call Solar Choice on 1300 78 72 73.

Why solar power is so popular in the ACT

The amount of solar photovoltaic (PV) capacity installed in Australia has grown dramatically in the past few years–over 1 million Australian homes now have solar panels, and Canberra is no exception. There are a number of reasons for this, but the main ones are: the dramatically falling cost of solar PV technology, government incentives, and the rising price of retail electricity. In particular, the ACT government has been ambitious in its pursuit of cleaner energy, with a 2020 target of 90% of its energy to come from renewables. The territory is also home to one of Australia’s most ambitious incentives for large-scale solar with its reverse-auction feed-in tariff.

Federal and ACT incentive programs for solar power

Federal incentives for solar power

Federal solar rebates are available for systems up to 100kW in capacity. The federal rebates come in the form of small-scale technology certificates (STCs), which are a type of renewable energy currency for small-scale renewable energy generation units created under Australia’s Renewable Energy Target.

STCs are in effect an up-front rebate on the cost of installing a solar PV system. STCs are tradable and their value fluctuates with supply and demand. However, they have remained mostly steady for the past 2 years or so. As an example of the amount of discount that they provide a solar system purchaser, a 3kW solar system installed in Canberra will see a price reduction of about 63-68c per watt thanks to STCs.

(You can see current average system prices for Canberra by checking Solar Choice’s most recent Solar PV Price Index.)

ACT incentives for solar panels

Local utility ActewAGL has recently introduced a ‘net metering’ scheme for ACT solar customers. Customers who own a solar system will now be paid 7.5c for every kWh that they ‘export’ to the electricity grid–i.e. that they do not consume on-site themselves. Since the retail electricity rate in the ACT is significantly higher than this, it makes more sense for homes and businesses to avoid purchasing pricier electricity from the grid by using as much of their self-generated solar power as possible to obtain the most benefit.

Solar system prices have fallen significantly in the ACT and across Australia

Solar system prices are much lower than they were only 4-5 years ago–in fact, they cost close to a quarter of what they used to be. Systems of decent quality can be installed for around $1.70 per watt, but system prices are as low as $1.30/W can be found for 5kW solar systems in Canberra.

Skyrocketing electricity prices

Most Australians are well aware of the climbing cost of power in recent years. This trend has driven more and more homes and businesses to find ways to cut their household electricity bills–and one of the most popular of these was has been solar panels. For this reason, even without any feed-in tariff incentive in place, it will still make sense to install a system; those who produce their own power will not need to purchase as much from the grid.

Compare solar power system prices in Canberra. Contact Solar Choice

Solar Choice, as Australia’s national solar PV installation brokering and advice service, makes comparing solar installers easy and straightforward. To date, we have helped over 105,000 Australians make an informed choice about going solar.

Get in touch with us and decide for yourself whether solar panels are worth the investment in Canberra: Request a Solar Quote Comparison by filling out the form on the right of this page, or by calling Solar Choice on 1300 78 72 73. Our services are 100% free to our customers. 

© 2013 Solar Choice Pty Ltd

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