The Small-scale Renewable Energy Scheme (SRES) was introduced by the Australian federal government to encourage the uptake of small-scale renewable energy systems, such as Solar panels, in residential and commercial properties.
Under the SRES, eligible Solar panel installations are entitled to receive Small-scale Technology Certificates (STCs). The number of STCs assigned to a Solar system depends on factors such as its location, capacity, and the amount of renewable energy it is expected to generate over the course of its lifetime.
The STCs can be created by the system owner and can then be sold or traded on the market. The value of the STCs fluctuates depending on supply and demand, but generally, they represent a financial benefit that can be used to offset the upfront cost of installing the Solar system.
The financial incentive provided by the SRES helps make Solar panel installations more affordable and accessible to a wider range of consumers. By reducing the upfront cost, it encourages more people to invest in renewable energy systems, thereby reducing greenhouse gas emissions and promoting the transition towards a cleaner and more sustainable energy sector.
It is important to note that the SRES is subject to periodic reviews and changes by the government. The program is currently scheduled to gradually phase out by 2030, with the number of STCs decreasing each year. Therefore, it is advisable for interested individuals or businesses to consult with a Solar installer or the Clean Energy Regulator to determine the eligibility and potential benefits under the scheme.