The number of STCs that can be created depends on the location, size, and output of the Solar system. The value of each STC is determined by market demand and can fluctuate. The larger the Solar system, the more STCs it can create, resulting in a higher Rebate.
To participate in the SRES, homeowners and businesses must ensure that their Solar system meets certain requirements, such as using approved products and installation methods. They also need to engage an accredited installer to install the system.
Once the Solar system is installed, the homeowner or business owner can create STCs through the Renewable Energy Certificate Registry. These STCs can then be sold to electricity retailers, who are obligated to purchase a certain number of STCs each year to meet their renewable energy targets.
The value of the STCs can be deducted from the upfront cost of the Solar system, reducing the out-of-pocket expenses for the homeowner or business. Alternatively, they can choose to sell the STCs on the open market to recoup the cost of the system after installation.
It is important to note that the SRES has a deeming period, which means that the number of STCs that can be created for a Solar system decreases over time. This is to incentivize early adoption of renewable energy systems. Therefore, it is beneficial to install a Solar system sooner rather than later to maximize the Rebate.
The SRES is administered by the Clean Energy Regulator and is available nationwide. However, some state and territory governments may also offer additional incentives or rebates for Solar systems, so it is worth checking for any local schemes that may be available.