Rebates

HOT WATER REBATES EXPLAINED

Rebates and financial incentives are offered Australia- wide at a Federal and State level depending on the type of water heater that is being replaced and what type of new system is being installed. It is extremely beneficial that you have a good understanding of what rebate is offered to achieve the best savings possible.

REC REBATE SCHEME

As of January 1st 2011 there have been changes made to the existing rebate scheme ( REC) that was previously in operation.

A REC from a heat pump installed before the 31st of December 2010 will now be reclassified as an LREC, or Large-scale generation certificate (LGC).

A REC from Heat pumps installed on or after the 1st of January 2011 will now be known as a SREC, or Small-Scale Technology Certificates (STC).

WHAT IS AN STC EXACTLY?

Small-scale Technology Certificates (STCs) are an environmental type of currency which are issued after installation of water heating, solar power and any other renewable energy technology which helps to reduce greenhouse gas emissions.

STCs save you money as you will receive cash back on your heat pump by using them as a point of sale discount from Stiebel Eltron –invest in a heat pump while STCs are still available!

Small-scale Technology Certificates (STCs) current price - $28 (21st November 2011)

(this price is market-based and will fluctuate depending on supply and demand)

PLEASE NOTE THAT THE REGISTER OF SOLAR WATER HEATERS VERSION 10 HAS BEEN RELEASED

The Office of Renewable Energy Regulator has released the Update to the Register of Solar Water Heaters (Version 10).  Under the new version the values of STCs have changed for the Stiebel Eltron WWK 300A as of the 27th October 2011.  To see current STC numbers based on your post code please visit www.orer.gov.au.

RENEWABLE ENERGY BONUS SCHEME - SOLAR HOT WATER REBATE (REBS)

The Federal Government currently offers a rebate to help eligible home-owners, landlords or tenants to replace electric storage hot water systems with solar or heat pump hot water systems.  Under the REBS Solar Hot Water Rebate eligible households can claim a rebate of $1,000 for a solar hot water system or $600 for a heat pump hot water system, for eligibility requirements and more information on the REBS Solar Hot Water Rebate please visit the Australian Government website.

IMPORTANT! PLEASE NOTE : Applications for the Solar Hot Water Rebate must be received within four months (122 days) after a hot water heat pump is installed.

REBS Information correct as at 3rd October 2011.

In addition to the Federal rebate, some states have additional rebates – so to find out if you are eligible for extra rebates in your state, please click on the correct state.