One of the most popular Solar rebates in Australia is the Small-scale Renewable Energy Scheme (SRES). Under this scheme, homeowners and small businesses can create Small-scale Technology Certificates (STCs) based on the amount of Solar energy their system is expected to generate over a certain period. These STCs can then be sold to electricity retailers, who are required by law to purchase a certain number each year. The value of the STCs varies depending on factors such as the location, size, and efficiency of the Solar system.
Another Rebate available in some states is the Feed-in Tariff (FiT). This incentive allows Solar system owners to sell excess electricity generated by their Solar panels back to the grid at a premium rate. The FiT rate is usually higher than the retail electricity rate, providing additional financial benefits to Solar system owners.
Additionally, there are various state-specific rebates and incentives available across Australia. For example, the Victoria Solar Homes Program offers rebates and interest-free loans for Solar panel installations, Solar hot water systems, and battery storage. The New South Wales Empowering Homes Program provides interest-free loans for Solar-battery systems, and the South Australia Home Battery Scheme offers subsidies for residential battery storage.
These Solar rebates and incentives play a crucial role in promoting the adoption of Solar power in Australia. They help offset the initial cost of installing Solar systems, making them more accessible and affordable for homeowners and businesses. By encouraging the use of renewable energy sources like Solar power, these incentives contribute to reducing greenhouse gas emissions and moving towards a more sustainable energy future.