BIG GREEN BONUS FROM SOLAR SCHEME

Wednesday, 25 August 2010 12:21

TEC today congratulated the NSW Government, householders, and the solar industry on the outstanding success of the Solar Bonus Scheme which has triggered a rush of consumers to install roof top solar power.

“The tariff which is both generous and effective, has so far paid 30,000 householders 60 cents per kilowatt hour to sell their energy back to the grid, which is four times what it costs to buy energy,” said Mr. Jeff Angel, executive director of TEC. “This has meant that householders are able to pay off their investments in record time. It’s a win-win for all.”
The present tariff has been limited to households and now that the total of 50 megawatts installed, the review triggered by the legislation can be broad ranging.
Mr. Angel said the next step is to allow bigger industries, including commercial renewable energy projects, to access the feed-in tariff, and also raise the cap. This would lead to greenhouse gas savings and significant job creation.
“The popularity of the scheme shows that Australians are hungry for clean energy,” said Mr. Angel. “This demonstrates that both federal and state governments have been given a mandate to increase our renewable energy targets. It also protects us all from carbon price impacts as it helps change the carbon mix of generation.”