The Small-scale Renewable Energy Scheme (SRES) is a government program in Australia that aims to promote the installation of small-scale renewable energy systems. It offers financial incentives in the form of small-scale technology certificates (STCs) to individuals, businesses, and community organizations that install eligible Solar PV systems, Solar water heaters, and heat pump water heaters.
STCs are created based on the amount of renewable energy the system is expected to generate over its lifetime. The value of the STCs is determined by factors such as the system size, location, and the number of STCs created. The more renewable energy a system is expected to generate, the more STCs it will receive, and therefore, the higher the financial incentive.
The installation of eligible systems is required to be done by accredited installers and meet certain technical requirements to be eligible for STCs. These requirements ensure that the installed systems are of high quality and will contribute to the reduction of greenhouse gas emissions.
The value of the STCs can be used by the system owner as a form of currency to offset the upfront cost of installing the renewable energy system. They can be sold in the open market to electricity retailers or other entities that have a legal obligation to surrender a certain number of STCs each year. The price of STCs can vary depending on market demand and supply.
Overall, the SRES is designed to encourage the adoption of small-scale renewable energy systems by providing financial incentives that make them more affordable for consumers. By promoting the use of renewable energy, the scheme helps reduce greenhouse gas emissions and contributes to a more sustainable energy future.