Gouging Insurance Premiums and possible State levies await Solar Panels.

 

Gouging Insurance Premiums and possible State levies await Solar Panels.

by tonytran2015 (Melbourne, Australia).

Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.

(Blog No.88).

by tonytran2015 (Melbourne, Australia).

#solar panel, #insurance, #sunlight levies, #solar, #levies, #return on investment,

Gouging Insurance Premiums and possible State levies await Solar Panels.

In the enthusiasm to install Federal Government subsidized Solar Panels, prospective owners of these Solar Panels may have forgotten two lessons of history. They are the gouging by Insurers and State Governments.

1. Gouging by Insurers.

Indeed,  the Installed Value of the Solar Panels must be included into the Home Content Values of the insured address.

The panels are in exceptionally exposed, easily damaged or stolen positions. Therefore Home Contents Insurers may require a premium worth about 3% of the Installed Value of the Solar Panels. For a $10,000AUD installed system, the premium would be about $300AUD a year.

However, Insurers may not use this easy argument but charge the maximum the market can bear. This has happened with turbo charged small engined cars. The result was that those cars had to pay higher premium than non-turbo cars with equivalent maximum power rating. For that case the market for turbo-charged small engined cars had collapsed.

So owners of Solar Panels should be prepared for the next move by Insurers.

2. State levies on Solar light received.

England has plenty of traditional houses with small windows. It was not that Englishmen did not know to build large windows but there was taxes based on the areas of windows of each house and Englishmen tried to reduce their tax liabilities.

Houses in Victoria, Australia generally do not have rain-water storage tanks (of the type used in Queensland, Australia). This is also due to State levies on rain water even when collected in private lands. Collection of these levies have now been discussed in Melbourne metropolitan area after the threat of the drought has subsided.

The precedents are there, do you think that the State Government of Victoria, Australia would ignore its easy to grab Levies on Solar Energy received ?

The State may arrogantly set the levies at 50% of local retail price of electricity. Who would be able to stop it? The State may say that it needs the money for its non-stop empire buiding!

3. Prospective Solar Panel Owners should beware of nasty surprises.

Everything is rosy when the Governments sell you. Once a marketing aim has been reached, the nasty surprises may surface.

When making calculations on the Return On Investments, prospective owners of Panels should consider Insurance Premiums and Possible State Levies on Solar Light along with their maintenance, wear and tear on the system.

Reference

[1]. https://en.m.wikipedia.org/wiki/Rain_tax

[2]. http://www.adelaidenow.com.au/ipad/farmers-to-pay-for-rain/news-story/d37fd0c2d61c745aa82cd1b3f03420c6?nk=80c5228ad4d7cd1bd5eee0ae79fafb02-1511998870

[3]. https://www.crikey.com.au/2007/03/16/regulating-the-rain/

[4]. http://www.onlineopinion.com.au/view.asp?article=6112

Added after 2017, November 10th:

[5]. https://www.energymatters.com.au/renewable-news/wa-solar-tax-em5225/

[6]. https://onestepoffthegrid.com.au/synergy-proposes-sun-tax-on-wa-solar-households/

[7]. https://www.solargain.com.au/blog/sun-sets-wa-solar-tax

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12 thoughts on “Gouging Insurance Premiums and possible State levies await Solar Panels.

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