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Who: The electricity account holder (home owner/ landlord/ tenant) may receive the Renewable Energy Buyback Scheme (REBS) from Synergy but this is not an automatic transfer. Should the property sell or get re-leased, the new account holder must apply to Synergy and meet a number of eligibility requirements before REBS can be paid.
The real estate agent/property manager should be mindful that existing REBS contracts are not automatically transferable and that new owners will need to have a new contract agreed by Synergy for the remainder of the period.
Overview: If you decide to install a small renewable energy system there are times when you could generate more electricity than you actually need. Through the Renewable Energy Buyback Scheme (REBS) eligible customers can ‘sell’ their excess electricity providing the chance to reduce their power bill.
As at January 2015, the REBS rate is 7.1350 cents/kWh. Additional administration and metering costs may apply. See the Synergy pricing schedule for further information.
The REBS is paid to the account holder who has signed an agreement with Synergy to sell power generated by the renewable energy generation system. It is important to note, the REBS stay with the property and can be transferable for the remainder of the term but are subject to conditions/ eligibility which are outlined in the Synergy Terms and Conditions booklet available online. Should the property with the REBS (or FiT, see below) be sold or leased, the new account holder (owner/tenant) will need to apply to Synergy (preferably within 28 days) to receive the REBS. It is NOT an automatic benefit and requires the new owner or tenant to apply to Synergy.
Note that any increases in the number/capacity of panels must receive the approval of your retailer. Synergy customers can complete the Change of System application form available on Synergy’s website.
Please Note: Be sure you check the latest information for REBS, including the pricing schedule and read the Synergy Terms and Conditions.