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Buyer Beware - Grid Connect Solar Systems

Salvation Seen in Renewable Energy Target

Greenway Energy installs Stiebel Eltron Heat  Pumps

Our largest Solar Installation to Date

Buyer Beware - Grid Connect Solar Systems

Buyer beware; of fraud in the Solar industry. The passing of the Renewable Energy Target bill (R.E.T) through parliament in recent weeks is defiantly a positive thing for Australia. However claims by some renewable energy companies that rebates for 1.5 kilowatt grid connect solar systems will be as high $7000-$7500 dollars are purely speculative and along way from the true price of around $4500.
The final draft of the R.E.T. legislation hasn’t been released nevertheless the R.E.T. legislation for solar PV will be written with the nucleus of the idea being a Renewable Energy Certificate (R.E.C) multiplier. The R.E.C. multiplier will multiply the number of R.E.C.’s applicable to a given system by 5. The maximum size for P.V. solar system size is caped at 1.5 kilowatts.

R.E.C prices are traded on an open market similar to the stock market. At the time when the Australian government announced its intention to replace the $8000 solar rebate with the R.E.C. multiplier scheme R.E.C. prices were at an all time highs of around $50 per R.E.C. Market conditions have changed since the announcement to around 35$ per REC. At the current price of around $35 per R.E.C.  the rebate on a 1.5 kilowatt grid connect solar system by about $4500.

This is where the misleading information comes into play. Most solar companies are telling customers that the rebate for a 1.5kilowat solar system will be $7000 to $7500 which is based on the price of around $50 per R.E.C. however the reality is that at current market prices the rebate is around $4500 and the customer is going to be left to pick up the balance of around $2500.
There is no guarantee for the price of R.E.C.’s because R.E.C.’s are traded on an open market if you are buying a grid connect system make sure that the final price is locked in to the contract and not tied to a mythical R.E.C price.                                  

Salvation Seen in Renewable Energy Target

Please click on link below to read article.

• The Australian Financial Review (subscriber login required)
• Newspaper scanned PDF

Greenway Energy installs Stiebel Eltron Heat  Pumps

After a successful trial Greenway Energy has proudly embraced Stiebel Eltron Heat Pumps. Heat pumps are a cost effective alternative to traditional solar hot water services. Heat pumps extract heat from the air and transfer energy into your hot water system. For information please see heat pumps and heat pump FAQ's. 

Our largest Solar Installation to Date 

This month Greenway Energy is installing a 5.6kW residential photovoltaic (solar electric) solar system. The system consists of 32 x 175 Watt Suntech solar panels equalling to 5.6kw in capapcity. The system will produce approximately 10,000 kWh of electricity per year equivalent to an annual emissions saving of 13,388 kg of greenhouse gasses or removing 3.3 cars off the road.