now wakes up, page-3

Government's solar credits scheme begins today
17:55, Thursday, 10 September 2009

Sydney - Thursday - September 10: (RWE Aust Business News)
A scheme providing support to Australians installing rooftop
solar panels will be available from today, the Minister for Climate
Change and Water, Senator Penny Wong, has announced.
Solar Credits were part of the Renewable Energy Target (RET)
legislation, passed by the Parliament on August 20.
Under the RET, electricity retailers are required to purchase
Renewable Energy Certificates, known as RECs.
Through Solar Credits, households installing rooftop solar
panels can receive five times as many RECs for each megawatthour of
solar energy produced by their solar panels.
For example, based on a REC price of $40, a 1.5 kilowatt solar
panel system installed in Sydney would receive $6200.
Based on a REC price of $50, the same system would receive
$7750.
"Solar Credits will significantly reduce the cost of going
solar at home," Senator Wong said.
Suppliers of solar panel systems will, in most cases, offer a
discount on the price of the system in return for the Solar Credits.
Households considering installing solar panels are encouraged to shop
around for the best deal.
Solar Credits are available to households, businesses and
community groups for eligible small scale renewable energy systems,
including rooftop solar panels and small scale wind and micro hydro
systems.
The scheme will be backdated to include eligible systems
installed from 9 June 2009.
The RET is designed to deliver on the Government's commitment
to ensure that 20 per cent of Australia's electricity supply is from
renewable sources by 2020.
The legislation now in place increases the current Renewable
Energy Target by more than four times, reaching 45,000 gigawatthours
in 2020.
"This means that in ten years' time, the amount of electricity
coming from renewable sources like solar, wind and geothermal will be
about equal to Australia's current household electricity use," Senator
Wong said.
The RET regulations which are now in force have also been
designed to prevent inappropriately large solar and heat pump water
heaters being installed to create excessive RECs.
The Regulations now require statutory declarations to ensure
that, for units with a capacity over 700 litres, the unit is
appropriately sized for its intended use and that there is an intention
that it remain in its original configuration and location for the life
of the unit.
Applications for Solar Credits can be made to the Office of the
Renewable Energy Regulator.
Further details are available at www.orer.gov.au., the media
report discloses.