Solar panel subsidies to end early

5 May 2011, 7:30 am   -   Source: AAP
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The changes mean the solar subsidies will end in mid-2013, a year earlier than previously announced. (Getty)

The changes mean the solar subsidies will end in mid-2013, a year earlier than previously announced. (Getty)

The federal government is set to accelerate cuts to solar panel subsidies, saving households up to $35 a year on their power bills.

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The federal government is set to accelerate cuts to solar panel subsidies, saving households up to $35 a year on their power bills.

Climate Change Minister Greg Combet will announce the changes on Thursday, the second time in six months that he has reduced the extra credits on offer for people who install solar panels on their roofs.

The changes mean the subsidies will end in mid-2013, a year earlier than previously announced, Fairfax newspapers say.

The further scaling back of the solar credits scheme will see the average rebate fall from $6200 to $3720, The Australian newspaper reports.

The cuts are expected to save households up to $35 a year on their power bills.

That's on top of the December changes that were expected to save $12 a year.

It will be achieved by lowering the amount of high-cost power that electricity retailers must buy under the government's renewable energy target, The Australian says.

Mr Combet will say strong demand for solar panels has continued, fuelled by declining system costs, the strong Australian dollar and economy, as well as incentives such as solar credits and the state and territory feed-in tariff schemes.
 

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Your Comments

Adelaide

Peter - from Electrician, 1 year

Completely the right decision. With your typical standard 1.5kw system costing around $2000 wholesale, solar companies are making around $6000 before installation costs. Sub-contractors are charging $800 for installation leaving around $5000 profit per system for the solar companies. Too much fat in this, especially when as an electrician you can install 2 units per day and make up to $7500 a week. No wonder you have a solar company as the major sponsor of Essendon football club.

Solar rebate cut back

Darryl - from Adelaide, 1 year

Are our politicians insane ?? We, as a community, are spending our own money to; reduce carbon production, lower the need for governments to invest in lager power generation schemes, make ourselves sustainable and end the discussion about the need to consider nuclear power. But, apparently, the way to push this forwards is to save us, up to $35 PER YEAR ! by winding back the incentive to become involved ! I'm not sure which economics program these people have studied, but it must be VERY special

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