Small-scale Renewable Energy Scheme (SRES): This scheme provides a financial incentive in the form of Small-scale Technology Certificates (STCs) to households and businesses that install eligible solar panel systems, solar water heaters, or heat pumps. The number of STCs received depends on the system’s size, location, and the amount of clean energy it generates. These certificates can be sold to electricity retailers or traders to offset the cost of the solar system.

March 25, 2024by Luke0

The SRES aims to encourage the uptake of renewable energy technologies and reduce greenhouse gas emissions by providing a financial incentive for individuals and businesses to invest in clean energy solutions. By offsetting the upfront costs of installing Solar panels, Solar water heaters, or heat pumps, the scheme makes renewable energy more accessible and affordable for households and businesses.

The number of STCs received for a system is calculated based on the amount of clean energy it is expected to generate over its lifetime. This calculation takes into account factors such as the system’s location, orientation, and efficiency. Once the system is installed and commissioned, the owner can create STCs and sell them on the open market to recoup some of the initial investment.

Overall, the SRES plays a crucial role in promoting the transition to a more sustainable energy future by incentivizing the adoption of renewable energy technologies. It helps reduce reliance on fossil fuels, lower electricity bills, and contribute to a cleaner environment.

Share on:

Leave a Reply

Your email address will not be published. Required fields are marked *