The Small-scale Renewable Energy Scheme (SRES) is designed to encourage the installation of small-scale renewable energy systems across Australia. Under this scheme, homeowners and small businesses are eligible to receive financial incentives in the form of Small-scale Technology Certificates (STCs) when they install eligible renewable energy systems.
The eligible systems under the SRES include Solar PV systems, Solar water heaters, and heat pumps. The amount of STCs that can be claimed depends on the size of the system and the location. The value of the STCs is determined by the market and can vary over time.
To claim the STCs, individuals or businesses need to register their system with the Clean Energy Regulator. The number of STCs they can claim is calculated based on the system’s capacity and the amount of renewable energy it is expected to produce over a set period.
Once the STCs are claimed, they can be sold on the STC market or assigned to an agent who can then sell them. The value of the STCs can be used as a discount on the upfront cost of installing the renewable energy system, making it more affordable for homeowners and small businesses to invest in clean energy.
The SRES aims to reduce greenhouse gas emissions and increase the uptake of renewable energy technologies by providing a financial incentive to install small-scale renewable energy systems. It is part of the broader Australian government’s efforts to transition to a cleaner and more sustainable energy future.