The Australian federal government announced today that it would scrap the unpopular means-test for the rebate for installation on solar panels. This means-test restricted the rebate to households earning less than \$100,000.
The means-tested rebate was worth up to \$8,000 where as the maximum rebate under the new system will be about \$7,500. This small decrease in the available rebate comes with a bit of a sweetener as the new rebate will now also be available to businesses and community groups.
The maximum rebate, for an average-sized 1.5 kilowatt system, will be about \$7,500 and a smaller-sized 1.0 kilowatt system will attract a rebate of about \$5,000.
Disappointingly, the value of the rebate will fluctuate and it will decline from 2012.
The current system will stay in place until July, when the new system will take over.
Source: The Canberra Times
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