The Small-scale Renewable Energy Scheme (SRES), also known as the Solar Rebate, is a program administered by the Clean Energy Regulator in Australia. It aims to encourage the adoption of small-scale renewable energy systems by providing upfront discounts on the installation cost of Solar panel systems, wind turbines, and Solar water heaters.
The Rebate is calculated based on the expected amount of renewable energy the system will generate over its lifetime, which is measured in Small-scale Technology Certificates (STCs). These STCs are created for each megawatt-hour of renewable energy expected to be generated by the system. The number of STCs required for a system is based on its capacity and geographical location.
Homeowners or installers can create and sell these STCs on the open market to electricity retailers or other parties who have a legal obligation to purchase them. The revenue generated from selling the STCs can then be used to offset the cost of the renewable energy system, reducing the upfront cost for the homeowner.
The SRES has been instrumental in driving the uptake of small-scale renewable energy systems in Australia by making them more affordable. It has played a significant role in the rapid growth of the Solar industry in the country, making Solar power more accessible to homeowners and businesses alike.