The Small-scale Renewable Energy Scheme (SRES) is a program introduced by the Australian government to encourage the adoption of renewable energy technologies by households and small businesses. The program provides financial incentives in the form of Small-scale Technology Certificates (STCs) to those who install eligible Solar panel systems, wind turbines, or Solar water heaters.
The value of the Rebate offered through the SRES depends on various factors. These include the size of the renewable energy system installed and the location of the property. The more energy the system is expected to generate, the higher the number of STCs awarded, and therefore, the larger the Rebate.
STCs are created for each megawatt-hour of electricity that the renewable energy system is expected to generate over a set period, typically 15 years. The number of STCs a system is eligible for is determined by a calculation that considers the system’s capacity, location, and the number of years it is expected to generate electricity.
Once the renewable energy system is installed, the system owner can create and sell the STCs associated with their system to electricity retailers or other entities with a legal obligation to surrender a certain number of certificates each year. The proceeds from selling the STCs act as a Rebate, offsetting a portion of the initial cost of installing the system.
The SRES has been successful in promoting the uptake of small-scale renewable energy systems in Australia. It has helped reduce the reliance on fossil fuels for electricity generation and contributed to the reduction of greenhouse gas emissions.
