Solar Smart - Smart Thinking for a sustainable future
Government Rebates
CLAIM UP TO $3,160 in Government Rebates*
To help with the purchase of your new Rinnai Solar hot water system, both the Federal and Victorian governments have various initiatives to significantly reduce the cost of purchasing and installing your system.
There are four main schemes that you may be eligible for, depending whether your system is to be installed in a new home, or if you are replacing an existing hot water system.
As these rebates can sometimes be difficult to navigate through and claim, Living Solar has made it easy for you by offering an upfront ‘point of sale’ discount on the purchase price of the system 1.
Renewable Energy Certificates (RECs)
The Federal Renewable Energy Certificates scheme is based around system efficiency. Each REC is equivalent to 1MW/h (or 1,000kW/h) of displaced or saved energy over a ten year period. Therefore, the more RECs a system is accredited with, the more efficient that system is. This means the RECs rating can also be used as an efficiency rating and an excellent way of comparing the effectiveness of different brands and types of systems.
All accredited solar hot water systems are eligible to claim RECs for installations in new homes, and for replacement of any type of existing hot water system including old solar hot water systems. Some conditions apply. Please refer to www.orer.gov.au for more information.
RECs are very similar to shares in that they do not have a fixed value, but rise and fall in value based on supply and demand in the market place. Like the share market, predicting RECs value is full of uncertainty, but by offering a ‘point of sale’ discount at a fixed price (based on the market price at the time of sale), Living Solar can remove that uncertainty of a RECs price change after you have purchased your system. You still have, of course, the option to redeem the RECs yourself after the sale (the ‘point of sale’ discount does not apply with this option) through one of the many RECs traders or through Rinnai directly. Living Solar can help to facilitate this option for you.
The Federal Renewable Energy Bonus Scheme - solar hot water rebate
The Federal government also has a second scheme targeted specifically at replacing existing electric hot water systems. As this type of hot water system is the highest producer of greenhouse gas emissions, there is extra incentive to have these replaced. This programme offers a flat $1,000 rebate. This rebate can ONLY be redeemed by the owner of the solar hot water system being installed. Living Solar cannot provide a 'point of sale’ discount with this rebate as directed by the Department of Climate Change and Energy Efficiency. Please refer to their website at www.climatechange.gov.au for more information. Living Solar will provide all necessary application forms and can help to facilitate this option for you.
Please note; this rebate is NOT means tested to a household income of $100,000.
Sustainability Victoria’s Rebate Programme
The Victorian government has a programme specifically targeted at replacing gas, solid fuel (e.g. wood fired), oil or existing solar hot water systems in Victoria. This offers rebates of up to $1,500.00 in the Melbourne metro area, and up to $1,600 in regional area.
For existing electric hot water heaters, a Victorian rebate is only available to applicants replacing an electric water heater where they have installed ceiling insulation under the Australian Government's discontinued Home Insulation Program and are thus unable to access the Australian Government Solar Hot Water Rebate. You can claim up to $1,000 in the Melbourne metro area, and up to $1,500 in regional areas. This rebate is also efficiency based, with the highest efficiency systems receiving the largest rebates.
Please contact Living Solar for more information, or alternatively visit Sustainability Victoria's website at www.sustainability.vic.gov.au .
Sustainability Victoria’s Energy Saver Incentive
The Victorian Government offers an extra incentive for a household to reduce their energy consumption by offering rebates on a wide selection of products including solar hot water systems. By replacing an existing electric or gas hot water system with a solar hot water system you may be eligible for Victorian Energy Efficiency Certificates (VEECs) which you can redeem as a 'point of sale' discount off the purchase price of your solar hot water system.
Please contact Living Solar for more information.
1. ‘Point of sale’ discount applies to Federal Renewable Energy Certificates (RECs), Victorian Energy Efficiency Certificates (VEECs) and Sustainability Victoria’s solar hot water rebate. RECs and VEECs value is calculated at the time of purchase. The Federal Solar Hot Water Rebate Programme can ONLY be claimed by the end user and therefore cannot be offered as an upfront ‘point of sale’ discount.
*$3,160 rebate based on replacement of an existing gas hot water system that has been installed for more than 12 months in RECs zone 4 i.e. Melbourne. Based on 43 RECs @ $36.00 each, 14 VEECs @ $8.00 each and Sustainability Victoria’s $1,500.00 rebate. System is a 315ltr, 3 Excelsior panel with an S26 gas booster.
