Sales of solar electricity systems to Australian households are growing exponentially.
This growth is occurring despite the Australian government imposing a means test on its rebates. The test currently limits rebate payments to households earning less than $100,000 a year. It was introduced in an effort to cool what Peter Garrett, Australia’s Environment Minister, referred to as an overheated market.
In the middle of 2008, when the solar rebate means test is introduced, there is a momentary pause in growth but sales quickly expand again.
The results support reports from many in the solar industry. The industry says people on lower incomes, particularly pensioners, are willing to invest in smart green power. People will pay capital now for future savings.