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OLD ROCK STAR WILL GIVE YOU $8000 14-May-2009 At 9:36:48 AM lacto

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I attended a meeting last night along with 150 others for Shepparton goes Solar . After the success of the Murchison Solar group which arranged about 500 systems to be installed the aim is to now to connect another 1000 + systems around the Goulburn Valley . The deal is all up $1600 for a complete 1kw pv system . All expressions of interest have to be in by June 22 to enable the applications to be lodged for the grant . Apparently about 5000 a week are being lodged at the moment Over 500 expressions lodged so far and at least 3 more meetings to go. They believe that they will end up with over 1500 systems which will make it the biggest community roll out in australia .

I feel that the biggest benefit of this wont be the actual installation and power produced but the effect on the consumptive patterns of those who do connect up which will save much more power than the systems will produce.

Interestingly the "new " scheme proposed in Victoria of 5 times recs for the first 1500 watts then normal rec for the rest coupled with a feed in tarrif of 60 cent for systems under 3.2 kw in many cases is far more attractive.

From the figures provided last night such a system would cost $30000.

recs worth $9100 versus $8000 and 2000 under old system

More importantly new scheme available to business and others

As a business if I put in a 3.2 kw system cost $30000
recs $9100 so nett of 20900
I will get gst back $1900 or $19000 nett
under the new tax proposal I can claim a 50% deduction in the years installed so down to $9500 of actual cash .

On the income side 3.2 X1600 approx 5000kwhs
1. assume all used as produced saving 18 cents per kwh is a return of $900 or 10 % on my money .
2. 30% of produced power fed back into grid so 3500@ 18 = $630 1500 @ 60 = $900 or $1530 or 17% on my money
3. 50 % fed back 2500@= $450 2500@60 = $1500 or $1950 or 21.6 % return

And every year on another 10% can be depreciated until writtenoff also power will be going up each year probably at 10% pa

So in real terms I spend $30000 straight back to $19000 depreciate 30 % (my tax rate) of $5700 or all up cash of mine invested of $13300 all of which will be returned within 4 to 6 years depending on assumed cash rate , grid feed back and power price increases .
Certainly a huge solar thermal plant is more efficient but it is still years away and at least if YOU instal a pv system the effect though small will be there much sooner and it stops the old theory of I'll wait until a more efficient or better system is developed .
A bit like a popular camping area where everybody just shits behind a tree . Sure a toilet block will clean it up but if everybody carefully buried their shit or carted it out it would be a great improvement