Grants, incentives and financing

When you install a solar system to generate electricity or heat water, you may be able to claim and sell small-scale technology certificates (STCs).

Small-scale Technology Certificates (STCs)

STCs are part of the Federal Government’s Renewable Energy Target scheme. This scheme gives Australians a financial incentive to install renewable energy systems. They are a type of Renewable Energy Certificate (REC).

You can generate RECs with an eligible solar power system.

Each STC has a market value. The larger the capacity of your system, the larger the dollar value of the STCs. In most cases, the incentive value is several thousands of dollars.

You can give your STCs to EnergyAustralia in return for a point-of-sale discount. You can also sell your STCs on the market. Either way, you’ll receive money to reduce the cost of your system.

Financing options

We have a number of suppliers to assist with the upfront cost of a solar power system. Depending on the finance product and repayment type, you may be able to make your repayments cash flow positive from day one, so that your business is saving straight away.

Accelerated depreciation

The 2015 Federal Budget announced a proposal to expand the accelerated tax concession for small businesses with an aggregated annual turnover of less than $2 million. If the proposal is passed into law, the new measure will apply to assets acquired from 7.30pm on 12 May 2015 until 30 June 2017. It will replace the previous instant asset write-off threshold of $1,000 and mean an immediate tax deduction will be available for assets purchased costing less than $20,000 (inc. GST) per item, that are installed and ready for use during the period.  There are also rules for assets valued at more than $20,000 (inc. GST).   

Please note that the information above is provided as a reference only and you should seek independent professional advice about suitable options for your business. You can visit the Australian Government 2015 Budget website for more information and updates on the income tax measures for small businesses.

Other grants and financial assistance

There may be other financial incentives available to you, depending on your industry and location. Some examples are below.
 

Scheme

Website

Clean Energy Finance Corporation 

cleanenergyfinancecorp.com.au

QRAA Sustainability Loan Program (QLD) 

qraa.qld.gov.au/current-programs

To find other grants and financial assistance, you can visit: business.gov.au/grantfinder

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