In case you didn’t know, the Federal Government is paying rebates for solar panels but the original allocation for this year is close to be exhausted next month.
The news:
Government has decided to keep paying the rebate, potentially blowing out the cost of the program, which was given $25.6 million for this year.
Why it’s important:
- The problem might be that the long-term future of the rebate is not sure.
- If the rebate would have stopped, the solar industry might have collapsed, meaning that only wealthier household could afford to use solar energy.
- The rebate system is inefficient because the number of rebates is constantly fluctuating so it’s difficult to think ahead.