Solar Power Business Grants You Need to Know About in 2024
In recent years, the corporate world has turned towards taking a step forward with corporate social responsibility. Corporate social responsibility means that companies are implementing meaningful measures within their business practices that yield positive impacts to the public and its stakeholders. Some of these impacts include working towards environmental protection and sustainability. One way companies can achieve this goal is through obtaining solar power for business grants. However, it is important to explore the leading business grants companies can obtain for solar power and the eligibility requirements for each program.
Available Solar Panel for Business Grants
Queensland Business Energy Saving and Transformation Rebates
In 2023, the Queensland government announced the Queensland Business Energy Saving and Transformation (QBEST) Rebates program. The purpose of the QBEST Rebates scheme is to get small to mid-size businesses to invest in energy-efficient equipment, such as solar power, through providing rebates to eligible businesses. However, the energy-efficient equipment installed by the business must contribute to the carbon reduction targets set out by the Queensland Government, as well as reduce the overall energy consumption and energy bills of the business itself.
Applications for QBEST Rebates opened on October 5, 2023 and will close June 30, 2025. Keep in mind that there will be multiple rounds of funding, so if you are not receiving a rebate in the first round, it does not mean that your business is excluded from the rebate scheme. If your business is accepted for a rebate, you can receive up to a maximum of $12,500 and, at a minimum, you will receive a rebate of up to 50% of the purchase and installation costs of the energy-efficient equipment.
There are particular eligibility requirements that a business must meet to acquire grants for solar power for the QBEST Rebate scheme. These requirements are as follows:
- The business size must be between 2 to 199 full-time employees including the owner of the business.
- Must be headquartered and operated within Queensland
- Must be registered for GST
- Must hold an Australian Business Number (ABN). If the business has different ABNs for multiple locations, each location may apply individually.
- Must not be a public company within the meaning of the Corporations Act 2001
- Must not have received any prior government funding for energy-efficient equipment
The QBEST Rebate scheme also has requirements for equipment considered eligible for a rebate:
- Must be one of the approved energy-efficient appliances with at least a 4-star energy rating
- The purchase must have been made from October 5, 2023 onwards
- The purchase must be paid in full and the receipt for purchase and, if applicable, installation must be acquired
If you have specific questions about the QBEST Rebate, call 13 43 87.
Small-Scale Renewable Energy Scheme (SRES)
The SRES aims to financially incentivise households and small businesses to install renewable energy systems through providing rebates. How it works is, once renewable energy systems such as solar panels have been installed, a small-scale technology certificate (STC) is rewarded for each megawatt hour of renewable energy that the system generates and/or displaces. Upon receiving the STC, owners can trade them in for rebates.
There are two ways in which STCs can be traded in for rebates:
- STCs can be assigned to an agent in exchange for a discount or a delayed cash payment
a. The assigned agent is usually the installer of the energy system
- Selling the STC themselves
a. There are 2 ways STCs can be sold
i. Via the open STCs market with market forces impacting the price
ii. Via the STCs Clearing House where 1 STC can be sold at a fixed price of $40,
1. This excludes GST
Unlike the QBEST Rebate, STCs are grants for solar power that are easier for businesses to acquire. The eligibility requirements are less stringent in that the equipment is less appliance-based and more system-based. Eligible systems include:
- Solar photovoltaic (PV) panels
- Solar water heaters
- Wind turbines
- Hydro systems
- Air source heat pumps
If you have specific questions related to the SRES or STCs, you can directly contact the Clean Energy Regulator here.
How Can DS Energy Assist?
When looking to utilise solar power for business grants, it is important for business owners to choose a system that suits all of their business needs – now and as the business grows. DS Energy is a leading solar developer and installation company in Southeast Queensland. We have a wealth of experience working with businesses of all sizes and can advise on the best solution for your requirements. Additionally, DS Energy is across all the solar power grants available for businesses and renewable energy incentives in Queensland, and can provide guidance on the system or appliance that is eligible for the different grants, as well as what grant your business may be eligible for. For further questions or concerns, please contact DS Energy directly here or call 3051 2058.