NSW Gov Kills Solar Rebate

The NSW Energy Minister Chris Hartcher has announced a massive cut to the State's existing rebate tariff, slashing it from 60 c/kWh to 40 c/kWh from July 2011 - the cut is likely to affect 110,000 NSW household who made the step towards solar.

The NSW solar scheme has now permanently closed, but the government has been forced to find ways to find cost savings in its misconceived solar scheme.

Whilst the now deceased scheme was the creation of the previous government headed by Keneally, it has not taken long for O'Farrell's team to set it's mark.

The biggest issue would appear to be that home owners made critical decisions in terms of investing in the solar asset, and will have relied on the favour rebate tariff to help cost the investment back through.