Clean Energy Regulator’s Announcement: Deeming Period for Solar PVs will Decline on 2017
There will be a decline in Solar PVs’ Deeming Period starting January 1st, 2017, and this is in alignment with Australia’s Renewable Energy Target until 2030. This means there will be lesser amounts of subsidies to expect in the next 15 years.
Year of Solar PV Installation Deeming Period
Solar PV Investors may currently refer to the standard Zone, Rating and System Size formula, which is set at 15 years:
Rate based on Zone of Installation x System Size x Deeming Period X STC* Rate = Estimated Subsidy
*Small-scale Technology Certificates
The issuance of eligible STCs may also reduce in the coming years. Australia’s Clean Energy Regulator monitors installation dates and Energy Certificate submissions, so Deeming Periods will be properly applied.
Hence it’s also advisable for Solar PV owners to provide their updated, accurate and truthful information in claiming their subsidies. The submission of misleading details is an offence under the Renewable Energy Act of 2000. Improper creation of STCs may require voluntary surrender of certificates and possible issues in subsidy claims.