The governments investment in the nations solar energy is currently the largest in our history. Its actions has translated into increased installations of solar panels over the last year, with more than half as many again installed as in the previous eight years. This has transformed the solar industry into a large, expanding “green-collar” workforce, and it has all occurred under The Solar Homes and Communities Plan (SHCP).

Solar Credits are the next step to build on this plan, and these are available for systems installed from today onwards. What this means is that businesses, homes and community organisations installing green energy systems will now receive solar credits. This will follow the passage of the Renewable Energy Target Legislation which Senator Wong said would be introduced into Parliament next week.

The Government has recently pledged 700 million dollars to the SHCP, quadrupling the initial proposal. This funding ensures that anyone having an existing qualified application would be funded, so that the transition to solar credits can be made smoothly.  This is good news for the 63,000 applications still underway (pre-approved or received). It is also good news for the industry, as this means there is funding secured for approximately a year’s worth of work at the current installation rates of 1,000 systems per week. This rate does not include accounting for solar credits. The solar credits scheme is set to grow solar industry at record levels. This is because it will make green energy available to homes, businesses and community groups, despite their income levels. This is as well as the commissioning of the $480 million dollar Solar Schools Program. According to Senator Wong, "Solar Credits under the Renewable Energy Target will provide the solar industry with the support and certainty to grow and invest beyond annual budget cycles". She said that it is also expected to cause the industry to increase efficiency, reduce costs and become more competitive, as time goes on, along with other energy sources in the renewable energy sector. According to Senator Wong, all of these factors combined would cause “an unprecedented growth in Australia′s renewable energy sector."

Quadrupling renewable energy (under the Renewable Energy Target), when combined with the new price on carbon (under the Carbon Pollution Reduction Scheme), is likely to completely alter the market for renewable energies. As well as the Renewable Energy Target, the Government will be introducing a new 4.5 billion dollar Clean Energy Initiative. The goal of this Initiative is to promote the development, commercialisation and deployment of renewable technologies. Included in this is 1.365 billion for the Solar Flagships Program, which should help to establish Australia as a global leader in solar technology.

For more information on the Solar Credits Program or the Solar Homes and Communities Plan, visit www.climatechange.gov.au and www.environment.gov.au/rebates