The Small-scale Renewable Energy Scheme (SRES) is a federal government initiative in Australia that provides financial incentives for individuals and businesses to install small-scale renewable energy systems, including Solar panels. These incentives come in the form of Small-scale Technology Certificates (STCs), which are created for every megawatt-hour of renewable electricity the system is expected to produce over a designated period.
The number of STCs that can be claimed depends on various factors such as the location of the installation, the size of the system, and the amount of renewable electricity it is expected to generate. These STCs can then be sold to electricity retailers or other liable entities, who are required by law to acquire and surrender a certain number of certificates each year.
The value of STCs can fluctuate depending on market conditions, but they effectively reduce the upfront cost of installing a Solar panel system. Homeowners and businesses can either claim the STCs themselves or assign them to an installer or retailer in exchange for a discount on the system’s purchase price.
It’s worth noting that the SRES is subject to a gradual phase-out, with the number of STCs available for eligible systems reducing each year until its completion in 2030. Therefore, it is advisable to take advantage of the scheme sooner rather than later to maximize the financial benefits.
Additionally, state and territory governments in Australia may offer additional Solar rebates or incentives to supplement the SRES. These programs vary by jurisdiction and can provide further financial assistance to homeowners and businesses looking to invest in renewable energy systems.
It is recommended to check with the relevant authorities or consult a Solar installer to determine the specific eligibility criteria and available rebates in your area.