The SRES aims to encourage the uptake of renewable energy sources by providing financial support to households and businesses looking to install Solar panels. By offsetting the upfront costs of installing Solar panels, the scheme makes renewable energy more accessible and affordable for consumers.
To be eligible for the SRES, the Solar panel installation must meet certain requirements set by the Clean Energy Regulator. These requirements include using approved Solar panels and inverters, using a Clean Energy Council accredited installer, and complying with relevant Australian standards and regulations.
Once the Solar panels are installed, the owner can create STCs based on the amount of electricity generated by the system. These STCs can then be sold to electricity retailers or other entities to offset the cost of the installation. The value of the STCs fluctuates based on market demand and other factors, but they can provide a significant financial benefit to the owner of the Solar panels.
Overall, the SRES is an important initiative in promoting the adoption of renewable energy technologies in Australia. By providing financial incentives for Solar panel installations, the scheme helps reduce greenhouse gas emissions, decrease reliance on fossil fuels, and promote a more sustainable energy future.
