The SRES aims to encourage the uptake of renewable energy systems by reducing the upfront cost for consumers. By receiving STCs, homeowners and businesses can offset the cost of purchasing and installing Solar panels, making renewable energy more affordable and accessible.
To be eligible for STCs, the renewable energy system must be installed by a Clean Energy Council accredited installer and meet certain technical requirements. The number of STCs received is calculated based on the system’s expected electricity generation over its lifetime, with more STCs awarded for systems that generate more electricity.
STCs can be traded on the open market, allowing homeowners and businesses to sell them to registered agents, who then surrender them to the government to meet their renewable energy targets. This provides an additional source of income for system owners and helps drive demand for renewable energy systems.
Overall, the SRES plays a crucial role in promoting the adoption of renewable energy technologies in Australia, reducing greenhouse gas emissions, and transitioning towards a more sustainable energy future.
