ACCC Calls to Scrap Solar Incentives

A 100kW solar system on an industrial shed that received nearly $60,000 in incentives under the Federal incentive scheme.

A 100kW solar system on an industrial shed that received nearly $60,000 in incentives under the Federal incentive scheme.

For the second time in as many years the Australian Competition and Consumer Commission has called to end the hugely successful Federal scheme incentivising home and business owners to install solar.

The renewed push to quash the incentive scheme came via their August 2019 Report - Inquiry into the National Energy Market which states that the Small-Scale Renewable Energy Scheme (SRES), which provides invaluable financial incentives for home and small business owners to install rooftop solar, should be wound down and abolished.

What they seem to be missing is that the scheme in fact is already winding down, and set to be completely exhausted by 2030, so is there really a need to meddle further?

In any case it would seem that the return on investment solar owners have enjoyed in recent times (circa 20-30%) may no longer be available if the scheme is axed. It you have been considering installing a solar system on your home or business, it might be a project to bring forward before a poor decision is made to render rooftop solar unviable.

For further reading on the findings and implications of the report can be found HERE.