The Small-scale Renewable Energy Scheme (SRES) is a government initiative in Australia that aims to promote the adoption of renewable energy technologies, particularly Solar panels, in residential and small-scale commercial settings.
Under the scheme, eligible installations of Solar panels and other small-scale renewable energy systems can receive financial incentives in the form of Small-scale Technology Certificates (STCs). The number of STCs received depends on factors such as the size of the system, its location, and the amount of renewable energy it generates over a set period of time.
STCs are a type of tradable certificate that represent the amount of renewable energy produced by the system. These certificates can be sold or traded to third parties, such as electricity retailers or other entities with a legal obligation to meet renewable energy targets. By selling or trading the STCs, system owners can receive a financial benefit that helps to offset the upfront cost of installing the renewable energy system.
The value of STCs varies over time and is influenced by factors such as market demand, supply of certificates, and government policy changes. The scheme is designed to progressively reduce the number of STCs issued each year, reflecting the decreasing cost of renewable energy technologies.
The SRES has been successful in driving the uptake of Solar panels in Australia, contributing to the country’s growing renewable energy capacity and reducing greenhouse gas emissions. However, it is important to note that the scheme is subject to periodic reviews and changes, so it is advisable to check the latest updates and eligibility requirements before considering a Solar panel installation under the SRES.