The Small-scale Renewable Energy Scheme (SRES) is an initiative introduced by the Australian federal government to promote the adoption of small-scale renewable energy systems. The scheme primarily focuses on supporting the installation of Solar panels, but it also includes other technologies like wind turbines, hydro systems, and Solar water heaters.
Under the SRES, individuals, businesses, and community organizations that install eligible systems are eligible to receive financial incentives in the form of Small-scale Technology Certificates (STCs). The number of STCs awarded depends on the size and location of the system, as well as the amount of renewable energy it is expected to generate over its lifetime.
STCs can be traded or sold to other parties, such as electricity retailers, who are required by law to purchase a certain number of certificates each year. The revenue generated from selling STCs can help offset the upfront costs of installing the renewable energy system, making it more affordable for consumers.
To participate in the SRES, individuals and businesses need to engage an accredited installer who will ensure that the system meets the necessary standards. Once the installation is complete, the installer will create the STCs on behalf of the system owner and transfer them to the Renewable Energy Certificate Registry. The owner can then trade or sell the STCs to recoup some of their investment.
The value of STCs can fluctuate over time due to various factors such as market demand and government policy changes. It is important for participants to stay informed about the latest developments in the STC market to maximize the financial benefits of the scheme.
The SRES has been effective in driving the uptake of small-scale renewable energy systems across Australia, contributing to the reduction of greenhouse gas emissions and promoting the transition towards a cleaner and more sustainable energy future.