Could The Price Of Solar Power Systems Be About To Rise?

In 2001, the Australian Government introduced a mandatory Renewable Energy Target (RET), which created a financial incentive for the establishment and growth of renewable energy such as solar and wind power.

The move was undertaken in order to cut emissions from Australia’s coal-dependant power sector, and was designed to ensure Australia generated 20% of its electricity from renewable sources by 2020.

Recently however, it was announced that a major review into the impact of clean energy on retail power prices was planned, which will also include reviewing the Renewable Energy Target.

While Industry Minister Ian Macfarlane said the outcome of the review was not set, there is a possibility the Renewable Energy Target could be removed altogether.

What this mean for solar customers, is a potential price rise in the cost of solar. If the incentives currently available are reduced or cut altogether the out of pocket expense for going solar may increase.

While everyone here at Beacon Solar eagerly awaits the outcome of the review, if you’re thinking about making the switch to solar, now is a great time to do it. Especially as none of us can predict what will happen to the price of solar power systems in the near future.

So don’t put it off it off any longer – and start enjoying a lifetime of power savings.

Talk to us today about how we can help you make the switch.

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