The government is aiming to reduce greenhouse emissions with energy efficiency rebates being offered to Australian homeowners for those who replace their conventional electric hot water systems with a low-emission hot water system. Local councils are being offered Federal Government Grants to do the same in offices, sports grounds and swimming pools.
Older style electric hot water heaters use up to four times as much electricity as the newer and more efficient systems which include solar, high efficiency gas and heat pump systems.
The gradual phase out of inefficient hot water heaters across to less electricity sucking systems will further reduce our reliance on coal fired power and help Australia meet its Kyoto Protocol target that 20% of our electricity needs will be met from renewable energy sources by 2020 .
Best of all, it should help consumers save on their electricity bills by reducing the cost to heat water for use around the home.
Under the new regulations, a working hot water system does not need to be replaced now, but when a system needs to be replaced, it will be with a energy efficient model. But if you want to reduce your electricity bill now there are presently Federal Government incentives which will significantly reduce your initial outlay for a new system - energy efficiency rebates.
These energy efficiency rebates are known as STCs (Small-scale Technology Certificates) formerly known as RECs (Renewable Energy Certificates) which offset the upfront cost involved if you install either a
The STCs differ from state to state across Australia and the number of STC’s your new system is eligible for is determined by
It is worth speaking to a Veraahdy advisor to determine:
The rebate amount you are entitled to and how to claim it
you’d like to get an approximate idea of the number of STCs which you
are entitled to the government website has a calculator which can act as
a guide. Your climate zone for heat pump water heaters is shown below:
The actual system price discount because of the energy efficiency rebate varies daily because the price for a STC changes like a share on the stock market, which is why talking to us today is recommended as we will be able to give you both the number of STCs and the current market value of the STCs and hence the upfront system price discount you could be entitled to.
** IMPORTANT NOTE
The Government has been known to shut off rebate programs virtually overnight, so if your existing electric hot water service is over 8 years old and recommended for replacement by its manufacturer, you should seriously consider replacing it now and lock in potentially thousands of dollars of rebates!
The Veraahdy team are happy to assist you in determining your STC rebate for any of our systems.
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