Under the Small-scale Renewable Energy Scheme (SRES) in Australia, households and businesses can receive financial incentives in the form of Solar rebates for installing Solar panels and other small-scale renewable energy systems. These rebates aim to encourage the adoption of clean energy technologies and reduce greenhouse gas emissions.
The SRES operates through the creation of small-scale technology certificates (STCs), which are generated based on the expected electricity generation of the installed system over a set period. These STCs can then be sold or traded to liable entities, such as electricity retailers, who are required to surrender a certain number of certificates each year to meet their renewable energy obligations.
The number of STCs that can be created for a Solar system depends on factors like its capacity, geographical location, and the amount of electricity it is expected to generate. The financial value of these certificates varies based on market demand and supply.
To claim the Solar Rebate, individuals or businesses must ensure that the installation is carried out by an accredited installer and that the products used meet certain standards. The Rebate can be claimed at the point of sale, where the value of the certificates is typically deducted from the upfront cost of the system.
It’s important to note that the value of the Solar Rebate decreases each year, following a gradual phase-out schedule. The SRES is scheduled to end in 2030, after which no new certificates will be created.