The Small-scale Renewable Energy Scheme (SRES) is a government program in Australia that aims to promote the installation of small-scale renewable energy systems. The scheme provides a financial incentive to individuals and businesses who install eligible systems such as Solar panels, wind turbines, and hydro systems.
Under the SRES, participants are eligible to receive Small-scale Technology Certificates (STCs) based on the amount of renewable energy their system is expected to generate over its lifetime. The number of STCs received depends on factors such as the system’s capacity, location, and the current market value of STCs.
Once the system is installed and commissioned, the STCs can be created and registered. The STCs can then be sold to electricity retailers or other buyers in the market, who are legally obligated to surrender a certain number of STCs to meet their renewable energy target obligations.
The amount of financial incentive received through the sale of STCs can vary depending on the market demand and the value of STCs at the time of sale. The Rebate helps to offset a portion of the upfront installation costs, making renewable energy systems more affordable for consumers.
It’s important to note that the SRES is subject to periodic reviews and adjustments by the Australian government. The scheme is scheduled to conclude by 2030, with the number of STCs reducing each year until its expiration.