Last Thur (5/5/11) Greg Combet, the Federal Minister for Climate Change and Energy Efficiency announced further changes to the Solar Credits program.
The REC/STC multiplier set to reduce from 5 to 4 from the 1st July will now reduce to 3. This is well in advance of the scheduled reduction. This means that the upfront cost to consumers wishing to buy a solar power system will increase by up to $2400 from this date.
The Solar Credits multiplier from 1 July 2011 will be reduced to three, and to two on 1 July 2012 and then be reduced to one on 1 July 2013.
Read full press release from Greg Combet Minister for Climate Change & Energy Efficiency