Currently, the main solar rebate program in Australia is the Small-scale Renewable Energy Scheme (SRES). Under this scheme, eligible solar systems can receive Small-scale Technology Certificates (STCs), which can be sold or traded to offset the cost of the installation. The number of STCs received depends on the size of the solar system and the geographic location.

January 31, 2024by Luke0

The SRES was introduced in 2011 and is administered by the Clean Energy Regulator. It aims to encourage the installation of small-scale renewable energy systems, including Solar panels, by providing financial incentives in the form of STCs.

STCs are created for every megawatt-hour of electricity that a small-scale renewable energy system generates over a certain period. The number of STCs that can be created for a system depends on its location and the amount of electricity it is expected to generate over the course of its lifetime.

The value of STCs is determined by supply and demand dynamics in the market. System owners can either sell their STCs directly to electricity retailers or through the STC Clearing House, where prices are set by the market. The revenue generated from selling STCs can help offset the upfront cost of installing a Solar system.

The number of STCs that a Solar system is eligible for is calculated using a formula that takes into account the system’s capacity, the location’s Solar multiplier, and the number of years of eligible deeming period. The Solar multiplier is a factor that adjusts the number of STCs based on the location’s Solar resource.

It’s important to note that the SRES is subject to periodic reviews and changes, so the number of STCs and the value of the Rebate can vary over time. Additionally, the scheme is set to phase out by 2030, with the number of STCs gradually reducing each year until the scheme ends.

Share on:

Leave a Reply

Your email address will not be published. Required fields are marked *