These STCs can be sold to electricity retailers, who use them to meet their Renewable Energy Target obligations. The value of STCs is determined by market demand and can fluctuate over time.
The SRES aims to encourage the uptake of small-scale renewable energy systems by reducing the upfront cost for consumers. By receiving a financial incentive for installing these systems, individuals and businesses are more likely to invest in renewable energy and reduce their reliance on fossil fuels.
To be eligible for STCs, the renewable energy system must meet certain criteria, such as being installed by an accredited installer and using approved components. The amount of STCs received is based on the system’s capacity, location, and the amount of renewable energy it is expected to generate over its lifetime.
The SRES is administered by the Clean Energy Regulator in Australia and is available to residential, commercial, and community-based installations. It has been successful in promoting the adoption of Solar panels and other small-scale renewable energy systems, contributing to the country’s overall renewable energy targets.