Under the SRES, homeowners and businesses that install Solar panels or other eligible renewable energy systems can receive Small-scale Technology Certificates (STCs) for the amount of electricity the system is expected to produce over a certain period of time (usually 15 years).
The number of STCs a system is eligible for is determined by its size, location, and the amount of electricity it is expected to generate. These STCs can then be sold to electricity retailers or other entities that have an obligation to surrender a certain number of STCs each year to meet their renewable energy targets.
The value of STCs can vary depending on market conditions, but they typically provide a significant discount on the upfront cost of installing a Solar panel system. This makes Solar panels more affordable and attractive to homeowners and businesses.
To be eligible for the SRES, the Solar panels and other renewable energy systems must meet certain technical requirements and be installed by an accredited installer. The Clean Energy Regulator maintains a list of approved Solar panel systems and installers.
In addition to the SRES, there are also state-based Solar rebates and incentives available in some parts of Australia. These can include grants, feed-in tariffs, and other financial incentives to further encourage the adoption of Solar energy.
Overall, Solar rebates in Australia play a crucial role in promoting the use of renewable energy and reducing greenhouse gas emissions. They make Solar panels more accessible and affordable for individuals and businesses, contributing to the country’s transition to a cleaner and more sustainable energy future.