As of Tuesday 28th February 5 pm the Renewable Energy Bonus Scheme has now finished. This applied to the purchase of energy efficient hot water systems when replacing the energy intensive electric systems.
The government has claimed it was in response to budgetary demands but the opposition has questioned this claiming there is still a significant unused portion of allocated funds to the scheme.
This is another example of the stop-start policy making for the renewable energy industry and shows that the government is struggling to understand that as business and community we desire the need for predictability. These stop start changes are not beneficial in trying to build a clean green future for Australia or a sustainable high quality industry.
Solar Rebate is Scrapped – The Age
Government takes Heat .. Sydney Morning Herald
Subsidies under fire .. The Australian
Solar rebates run hot and cold .. The Age
And from the Fin Review “… it shows the government is struggling to understand the business community’s need for predictability.” which aptly sums up the industry’s perception of the current government.
The government however still remains committed to phasing out electric hot water systems and continued support to install climate-friendly hot water systems through the Small-scale Renewable Energy Scheme (previously known as RECs).
Solar hot water still remains the most efficient and cost effective way to heat water in your household.
The Solar REC Multiplier is due to be reduced in June 2012.
The reduction in the REC multiplier will significantly add to the upfront cost of all solar power systems.
To take advantage of current opportunities talk to our solar team today.