The Small-scale Renewable Energy Scheme (SRES) is a government initiative in Australia that aims to promote the installation of small-scale renewable energy systems. The scheme provides financial incentives to individuals, businesses, and community organizations that invest in renewable energy technology, such as Solar panels.
Under the SRES, participants are eligible to receive Small-scale Technology Certificates (STCs) for the installation of eligible small-scale renewable energy systems. The number of STCs received is determined by the size of the system and its expected electricity generation over its lifetime.
STCs can then be sold to electricity retailers, who are legally obligated to purchase a certain number of certificates each year. The price per STC is determined by market demand and supply, which can fluctuate. The income generated from selling STCs can help offset the upfront cost of installing the renewable energy system.
The SRES aims to reduce greenhouse gas emissions by encouraging the adoption of renewable energy systems and supporting the growth of the renewable energy industry. By providing financial incentives, the scheme helps make renewable energy technologies more accessible and affordable for individuals and businesses.
The SRES is administered by the Clean Energy Regulator in Australia and operates alongside other renewable energy initiatives, such as the Large-scale Renewable Energy Target (LRET). These schemes collectively contribute to Australia’s renewable energy goals and transition towards a cleaner and more sustainable energy future.