According to Stephen Cranch, National Business Manager, Solahart Industries , the Federal government’s announcement of the removal of the solar panel rebate does not affect solar hot water incentives.
Peter Garrett, Environment Minister, has revealed that the Federal government will no longer accept applications for their solar panel rebate, but instead will start their replacement scheme of solar credits. However, this does not apply to solar hot water rebates currently on offer.
According to Cranch, the removal of the PV rebate for solar power is not to be confused with solar hot water incentives. They are two separate schemes. The government’s financial rebate for solar hot water systems is still available for consumers who are looking to make the switch to green-friendly hot water.
The combination of incentives and State and Federal government rebates can provide home-owners with between $2,800 and $3,700 back on solar hot water systems depending on which state or territory they live in, and what type of system they select. A fully installed solar hot water system is around the same price as an electric water heater.
Solar hot water is also a cheaper alternative for residents looking to reduce their energy consumption. Water heating accounts for around 25% of household energy consumption. By harnessing the sun, home owners can use less energy to heat the water resulting in substantial energy savings.
The environment is also a big winner in the growing trend towards solar hot water heating where each new installation saves around three tonnes of greenhouse gas emissions every year compared to a conventional electric water heater.