WA Power Credit: How to Benefit More From It
Premier Mark McGowan has recently announced households in Western Australia will receive credit on their electricity account. More than a million homeowners will enjoy this rebate, which is expected before the next bill.
According to the press release, about 1.1 million households will get the one-off $600 rebate starting on the 1st of November. If the house does not utilise the entire credit on their accounts, the remaining amount can still be used on the next bills. Another part of this good news is that it will not be means-tested.
This rebate is a part of the Government’s pre-election State Budget of $644 million, which may help ward off criticism of the opposition. At the same time, it will assist in stimulating the economy of the state. The $650 million measure and other parts of the State Budget have been delayed since May due to the pandemic.
Where Did the Funds Come From?
The origin of this rebate stems from the Bell Group litigation. It is funded completely through the settlement that the Government received from the Bell Group collapse in the 90s. It does make sense that the funds should be given back to the citizens.
In McGowan’s announcement that took place in Bicton, he said that the WA state is in its best possible position at the current time. With everyone’s help, Western Australia continues to stay strong as the economy, businesses, and people recover from the effects of COVID-19. However, there is still more work to do.
This $600 credit will give WA families a means to have a bit of extra money, especially since the Christmas season is just around the corner. It will automatically be applied to all residential accounts under Synergy and Horizon.
The creation of additional expenditure in the economy allows WA to support local jobs. Also, it gives assurance to homeowners and businesses that it is possible to recover from the pandemic stronger than ever.
With such a financial incentive, this could really help West Australian’s not only saving money in tough economic times but get them thinking about their energy future, particularly with solar power.
Homes with Solar Installed Get More Benefits
With the holidays coming up, it means more expenses. Costs of food, gifts, décor, and even your electric bills will surely skyrocket. But thanks to the power credit, you will get an extra $600 more money in your budget. That is indeed a big help!
Even better, if you have solar, you will truly benefit the most from this rebate. With solar, your bills have already lowered in comparison to your previous consumption. Since the $600 credit, if not used fully, can be distributed to your future bills, you get to save a considerable amount today and the coming months.
But if you do not have solar installed at the moment, it does not mean you benefit from this credit less. Why not spend it on something worthwhile, such as Tier 1 panels and a quality inverter to make up your solar system? Of course, it will not cover all the expenses, but it is a huge step towards having your very own rooftop solar.
You may already know that feed-in tariffs are reducing and will continue to do so. Plus, the buyback scheme may no longer be as attractive as it once was. As the slashes of solar incentives happen in the background, it remains an excellent idea to install solar in Perth and the rest of WA. You can read more about the solar rebate here.
And here is something that you can ponder on: Once you have entirely consumed the power credit from the Government, solar will not stop giving you benefits. Payback may be longer due to the lower rebates and the DEBS feed-in tariff that did not make a lot of people happy. Still, solar is less expensive than before. If your roof does not receive significant shading, you can save more on power bills than without.
Also, it is guaranteed that you will keep saving money even as electricity prices go up in the future. To have such peace of mind makes solar an incredible investment.
Now is perhaps the best time to get solar for your home, with summer well on the way, a solar rebate in full swing and now a power credit. Solar makes more sense than ever for you, your budget and your home. Don’t wait for the rebate to be long gone. Enjoy solar and lower bills by installing solar in your home. Contact EasySolar to learn more!