The Small-scale Renewable Energy Scheme (SRES) is a government initiative in Australia that aims to encourage the installation of renewable energy systems in households and small businesses. The scheme provides a financial incentive to offset the cost of eligible systems such as Solar panels, wind turbines, and Solar water heaters.
Under the SRES, eligible systems are awarded with Small-scale Technology Certificates (STCs) based on their energy generation capacity. The number of STCs allocated to a system is determined by factors such as the technology type, location, and the amount of energy it is expected to generate over its lifetime.
Once the system is installed and operational, the owner can create and register the STCs associated with it. These STCs can then be sold or traded on the open market. The value of STCs fluctuates depending on supply and demand, and the revenue generated from their sale can be used to offset the upfront cost of the renewable energy system.
The SRES has been successful in promoting the adoption of small-scale renewable energy systems across Australia, helping to reduce greenhouse gas emissions and dependence on fossil fuels. It has made renewable energy systems more affordable for households and small businesses, making it an attractive option for those looking to reduce their carbon footprint and save on energy costs.