The Small-scale Renewable Energy Scheme (SRES) is a nationwide program in Australia that provides financial incentives for the installation of small-scale renewable energy systems, including Solar PV systems. The scheme is administered by the Clean Energy Regulator.
Under the SRES, homeowners and small businesses that install Solar systems with a capacity of up to 100 kilowatts are eligible to receive small-scale technology certificates (STCs). The number of STCs allocated to a system depends on its size, location, and the amount of electricity it is expected to generate over its lifetime.
The STCs can be traded and sold in the open market, allowing system owners to receive a financial benefit. The value of an STC is determined by market demand and can fluctuate.
The Rebate amount a system owner receives is calculated by multiplying the number of STCs by the market value of each certificate. This Rebate can help offset the upfront cost of installing a Solar system, making it more affordable for homeowners and small businesses.
It’s important to note that the SRES is a time-limited program, and the Rebate amount gradually reduces over time. This reduction is known as the “deeming period,” and it aims to reflect the decreasing cost of Solar technology.
Overall, the SRES has been instrumental in promoting the adoption of Solar energy in Australia by making it more financially viable for individuals and businesses to invest in renewable energy systems.