3 Not-to-MISS Key Changes on Solar
We know you are busy keeping up with many changes during these unprecedented times. We want to save you time. Therefore, we've summarised 3 key changes with solar & battery in 3 minutes for you:
PV panel prices going up
The solar market has been shocked by a considerable price increase in PV panels, across the board pretty much. We’ve been notified by the manufacturers/ wholesalers that an increase of up to 10% is expected.
Some new panel stocks in the country also seem to be on low levels.
Covid did initially cause a temporary delay in supplies, and now, polysilicon’s rising price and shortage have been forcing manufacturers to slow down production. Coupled with a recent surge in downstream demand as some economies recover, these are causing a storm in the supply chain.
Some analysts are convinced that the polysilicon shortage will continue “for a while,” as there are no signs of its supply catching up anytime soon, with consequences for the whole PV supply chain.
Furthermore, it is expected that silver and copper will also see upward price trends.
We thankfully still have access to certain stocks, if you want prices closer to the old pricing level. But, this can only be determined on an almost day-to-day basis.
Solar panel and battery rebates reduced in VIC
Residential SolarVIC rebates reduced to $1,400 as of July 2021 but with still the option of an interest-free loan.
Solar battery rebates will remain at their current value of up to $4,174 until all rebates in 2020–21 have been fully allocated. At the time of writing, there are only 1,087 battery rebates available.
The rebates will then reduce to $3,500.
This battery rebate makes residential battery quite attractive and has tipped over people who had been considering battery for a while to pull the trigger.
Very accessible cheap funding for solar and battery
Here is the simple math: If you can afford to pay for your energy bill, then you would be able to afford solar.
Why? Because…
· Given the current rock-bottom interest rate, a very accessible Chattel Mortgage or no-doc loan is so attractive.
· Even if your business has been impacted by COVID, no-doc loans with instant approval can be obtained
· Immediately positive cashflow to boost your cash flow and increase your business resilience
· Finance GST component and get GST credit.
· $0 capital outlay - preserve cash for other priorities or uncertainty
· Amortise the repayments over a number of years
· Can still claim the instant asset write-off (currently no-limit for most organisations) through the above schemes.
Just stating the obvious perhaps – we are not accountants or financial advisers. But, we can put you in touch with excellent partner financiers who specialise in solar or other energy projects.
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