The Small-scale Renewable Energy Scheme (SRES) is a government Rebate program in Australia that encourages the installation of small-scale renewable energy systems, primarily Solar panel systems. The Rebate is available to both homeowners and businesses.
Under the SRES, participants are awarded Small-scale Technology Certificates (STCs) based on the size and location of their Solar system. The number of STCs received is determined by the amount of electricity the system is expected to generate over a set period of time, known as the deeming period.
These STCs can then be traded or sold to registered agents, who act as intermediaries between system owners and electricity retailers. The agents purchase the STCs from system owners and sell them to electricity retailers, who use the certificates to meet their renewable energy obligations.
The value of the Rebate, in terms of the number of STCs, depends on various factors such as the location of the Solar system, the size of the system (measured in kilowatts), and the date of installation. Generally, areas with high Solar radiation levels are assigned more STCs, as are larger systems.
The value of STCs fluctuates in response to market demand and supply. As such, the Rebate amount can vary over time. System owners can use the value of their STCs to reduce the upfront cost of installing their Solar system by assigning the certificates to a registered agent.
Overall, the SRES aims to support the adoption of small-scale renewable energy systems by providing financial incentives to system owners and facilitating the trading of STCs.