If you were thinking of installing solar panels on your roof in NSW in order to take advantage of some of the government incentives for home-based solar power, you're all out of luck. The NSW government has suspended the Solar Bonus Scheme thanks to the rising costs associated with the popular project.
The energy minister Chris Hartcher today announced that the scheme was set to add an estimated $651 million to the state's budget deficit over the next four years. As such it has been suspended and won't be accepting new applications, although applications currently in the system will still be processed.
This is a huge blow to the growing number of people considering a solar panel installation in NSW. Considering the amount of talk and effort that the country is trying to put into renewable energy, suspending an incentive program because of its popularity seems like a hugely backwards step.
Whether the scheme is closed permanently will be discussed at the government's solar summit in May. Here's hoping they don't decide to kill it off.