The Small-scale Renewable Energy Scheme (SRES) in Australia is a federal government initiative aimed at promoting the adoption of small-scale renewable energy systems, such as Solar panels. Under this scheme, individuals and businesses can receive financial incentives, in the form of Solar rebates, for installing eligible Solar power systems.
The SRES operates by creating a market for Small-scale Technology Certificates (STCs), which are generated based on the expected power generation of the installed Solar panel system over a period of time. The number of STCs that can be generated depends on factors such as the size of the system, location, and the amount of electricity it is expected to generate. These STCs represent the environmental benefit of the renewable energy generated and can be traded or sold.
To claim Solar rebates under the SRES, individuals or businesses must purchase an eligible Solar panel system from an accredited installer and then assign the right to create the STCs to the installer or a registered agent. In return, the installer usually offers a discount on the upfront cost of the system, which is equivalent to the value of the STCs. The installer can then create and sell the STCs to recoup the cost.
The value of the Solar Rebate depends on various factors, such as the market demand for STCs and the size of the Solar system. It is important to note that the value of the Rebate decreases over time as the government plans to gradually phase out the scheme by 2030.
The aim of the SRES is to encourage the adoption of renewable energy systems by making them more financially accessible to individuals and businesses. It has played a significant role in the rapid growth of the Solar power industry in Australia, making it one of the leaders in rooftop Solar installations worldwide.