The Small-scale Renewable Energy Scheme (SRES) is designed to encourage the installation of small-scale renewable energy systems in Australia. By providing financial incentives in the form of Small-scale Technology Certificates (STCs), the government aims to make Solar panels and other renewable energy systems more affordable for homeowners and businesses.
The number of STCs a system is eligible for is determined by factors such as the size and location of the system, and the amount of electricity it can generate. The more renewable energy a system can produce, the more STCs it will be eligible for. These STCs can then be sold to electricity retailers, who are required by law to purchase a certain number of them each year.
The proceeds from selling STCs can be used to offset the upfront cost of installing a Solar system or other small-scale renewable energy system. This reduces the financial burden on consumers and makes renewable energy more accessible to a wider range of people.
Overall, the Small-scale Renewable Energy Scheme aims to incentivize the adoption of renewable energy systems, particularly Solar panels, by providing a financial benefit to those who install them. By reducing the upfront cost and making renewable energy more affordable, the scheme encourages greater uptake of clean energy technologies and contributes to the reduction of greenhouse gas emissions.