Solar bonanza

The draft Renewable Energy (Electricity) Amendment Bill 2008 proposes that all renewable small generation units (up to 1.5kW) installed between 1 July 2009 and 30 June 2012 can create 5 RECs per MWh.

What does this mean? Essentially, instead of receiving $2,700 worth of renewable energy certificates when you install solar panels/solar hot water on your roof, you would get around $13,600! This assumes that the system is generating power approximately 8 hours per day, 300 days per year.

So, if you’re about to install some good old-fashioned renewable energy on your house, wait! And if you’re thinking about going into business, this is one area where sales are going to be a piece of cake. I think we’re about to see a proliferation of high-prices solar panel installers.