The Small-scale Renewable Energy Scheme (SRES) is a federal government initiative in Australia that aims to encourage the adoption of small-scale renewable energy systems, such as Solar panels and Solar water heaters. The scheme provides financial incentives to eligible households and businesses, in the form of Small-scale Technology Certificates (STCs).
STCs are created when a small-scale renewable energy system is installed, and their value is determined by factors such as the size and location of the system. The larger the system and the more sunlight it receives, the more STCs it generates. These STCs can then be sold to electricity retailers, who are required by law to buy a certain number of them each year.
The value of the Rebate provided through the SRES depends on the market price of STCs, which can vary over time. The Rebate is generally deducted from the upfront cost of purchasing and installing the Solar panel system or Solar water heater. This helps to lower the initial investment required by individuals and businesses looking to adopt renewable energy technologies.
By providing financial incentives, the SRES aims to make renewable energy systems more affordable and accessible, thereby encouraging their widespread adoption. This helps to reduce greenhouse gas emissions, increase energy efficiency, and contribute to the transition towards a more sustainable and renewable energy future.