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Changes to the Solar Credits multiplier

16 Nov 2012 5:38 PM -

Today, Greg Combet, Minister for Climate Change and Energy Efficiency, announced that the Solar Credits mechanism will be phased out ahead of schedule on 1 January 2013.

 Installation of small-scale systems and solar hot water heaters continues to be supported under the Renewable Energy Target scheme, with solar PV systems benefiting from generous arrangements that provide support for 15 years worth of generation upfront.

“Consistent with a previous reduction in the multiplier announced in May 2011, legally binding contracts to install supported systems, already entered into before today and made on the basis of the current rules, will be preserved. The same applies to systems installed before 1 January 2013.”
 
For the full media release, click here


 

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