We are getting closer to understanding the new landscape for renewable energy credits for solar systems. Regulations passed last week identifying how the Federal system works:nGo to http://www.climatechange.gov.au/media/whats-new/enhanced-ret.aspx for the downloadables.nNote that a new term “Solar Credits” has been coined. These are RECS (Renewable Energy Credits) on steroids. RECS still exist at whatever the going rate is. A Solar Credit is equivalent to a 5 RECs over the next 3 years, then phasing out by 2016. Then it is 1:1. The Solar Credits are only available on the first 1.5kw; I assume 1:1 RECS apply on systems over that – the info is not clear on this. Its also a “one-bite-of-the-cherry” situation – so, no point going for a 1kw system, and looking for an upgrade later – you won’t get the Solar Credits on the 0.5kw balance, but RECS still apply.nThe NSW Government will introduce its Feed-In Tariff (FIT) Scheme from the beginning of next year. This will pay 4 times the market rate for solar electricity. It is on a net basis, not gross. That means, only on the net amount delivered to the grid during sunshine hours. So with the fridge on during the day, only up to 50{56009ffdfd1e83b686f128fb80c176c329ce4412c2e78292d0cc9474f0196256} or so of the electricity generated by a 1.5kw system will be exported to the grid, and thus attract the feed in rate – currently 60c per kwh.nCheck out: www.dwe.nsw.gov.au/energy/sustain_renew_fit.shtml for details
