The SRES aims to encourage the uptake of renewable energy systems, such as Solar panels, by providing a financial incentive to offset the upfront costs. The scheme works by assigning a certain number of STCs to each eligible system based on the amount of renewable energy it is expected to generate over its lifetime.
The number of STCs allocated to a system depends on factors such as the size of the system, its location, and the amount of electricity it is expected to generate. These STCs can then be sold to electricity retailers or other entities that have a legal requirement to buy them, providing an additional source of income for system owners.
By providing financial incentives for small-scale renewable energy systems, the SRES helps to reduce greenhouse gas emissions, promote the transition to clean energy sources, and support the growth of the renewable energy industry in Australia. It also helps to reduce electricity bills for households and businesses that install Solar panels, making renewable energy more affordable and accessible to a wider range of consumers.
