How the Revised Renewable Energy Plan Affects Solar Energy

October 26th, 2010

Copyright (c) 2010 Nadine Davis

If solar technology has been out of your financial reach in the past, 2011 may be the year for you. Changes to the Renewable Energy Target plan are going to make buying solar panels, solar hot water systems and other products more affordable than ever. Find out the details by reading on below.

How Solar Energy Comes into Play:

Beginning on 1 January 2011, the Renewable Energy Target is going to include two parts. The Small Scale Renewable Energy Scheme, or SRES, will cover small scale technologies like solar hot water water systems and solar panels. It will provide $40 per megawatt to homeowners who install these types of products. Investing in solar power products will come with great incentives for homeowners, thanks to this change.

Under the new SRES scheme, a household that installs a 1.5 kilowatt solar panel system in the year 2011 will receive an estimated $6,200 upfront subsidy. The typical solar hot water system will garner homeowners an upfront subsidy of around $1,200. In other words, investing in – and using – solar panel and other products will be more affordable than ever. Since they will reduce energy bills, they are doubly cost effective. Those home owners that have been putting thought behind the purchase of a solar panel system or solar hot water system may choose to wait until the changes come into reality on the 1st of January next year (2011).

Help the Planet and Save Money:

The goal of the revised Renewable Energy Target plan is for 20% of Australia’s energy in 2010 to come from renewable sources. Thanks to the new changes, this goal looks to be more attainable than ever. Its clear to see that these revised items improve the plan, and it’s definitely good news for households who are a little short on cash but would like to do their bit to assist in making this big goal an actuality. If you’re one of them, 2011 is going to be a prime year for finally investing in this eco-friendly technology.

The Large Scale Renewable Energy Target, or LRET, portion of the plan concerns large scale projects like wind farms and geothermal and solar enterprises. Although these organisations are expected to do a lot of the “heavy lifting,” the help of private homes is going to be essential for success. With everyone pitching in, it is hoped that that 20% goal will be met and exceeded. This will help reduce energy costs and, more importantly, will help save and protect the planet. If you’d like to do your own part, you can read more about these changes online.

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One Response to “How the Revised Renewable Energy Plan Affects Solar Energy”

  1. Ben says:

    Great article! In the mid ’80s, I worked with a builder who decided to include solar energy as a standard feature in all of his homes. He ended up building seventy homes in Jacksonville, NC, about twelve homes in Rome, GA, and five or six in Chapel Hill. Each house has passive and active solar systems. The passive solar system provides space heating during the day and the active solar system provides space heating and hot water in the evening or whenever the passive was spent. Some of these homes had solar fractions as high as 80%!
    During this time, solar thermal systems were becoming accepted in the housing market as standard equipment. The market was maturing with proven technology. Unfortunately, the federal government pulled the rug out from under us by repealing the solar tax credits. Most of the marketplace collapsed as a result.
    Europe was going through some energy problems of its own but continued to push for energy conservation and solar energy. To my understanding, Germany has mandated solar hot water systems on all new construction. Europe is now way ahead of the US in the adoption of solar therm systems and is selling their equipment to us.
    Let’s get it right this go round,

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