HOUSE BILL: Renewable Energy Rebate and Subsidy Act (Passed - Sent to VP/PPT))

[Clyde1998]

This bill intends to make renewable energy more affordable for people, assisting in our transition away from fossil fuels.

The rebates will, in effect, reduce the cost of people's electricity bills. Domestic solar panel units range from 1 kW to 5kW in size, with a 4kW unit producing, on average, 3,400 kWh annually. At the $0.025 rate listed in the bill, that would generate an annual saving of around $250 annually ($21 per month). The rebate is intended to cover the cost of installation. The subsidies help people with the initial costs of installation.

I've estimated that this will cost $15bn in the first year, before falling to around $10bn annually thereafter. I believe that the first year will have higher costs, due to people taking up the opportunity to install renewable energy systems (the subsidies will cost more than the rebate).

[Clyde1998]

What is the avg cost of installation?

It depends on the size of the unit - a 4kW solar panel unit is roughly $7,500. A 1kW solar panel unit is about $4,000.

[Clyde1998]

What is the avg cost of installation?

It depends on the size of the unit - a 4kW solar panel unit is roughly $7,500. A 1kW solar panel unit is about $4,000.

What about the cost of labor for said installation?

All the research that I've done on this suggests that this will include the cost of labour.

I've just noticed that I forgot to remove the UK VAT when I converted these figures - this would make it $6,000 and $3,200 respectively for the figures I quoted above.