These STCs represent the amount of renewable energy that the Solar panels will generate over a certain period of time. The number of STCs a system is eligible for is based on factors such as the location of the property, the size of the system, and the amount of renewable energy it is expected to produce.
The value of STCs fluctuates based on supply and demand, but homeowners and businesses can typically sell them on the open market to recoup a portion of their upfront installation costs. The number of STCs that can be claimed decreases each year as the government aims to gradually phase out the program.
In addition to the SRES, some state governments and local authorities also offer their own Solar rebates and incentives. These programs may provide additional financial support or incentives to encourage the adoption of Solar energy.
It is important for homeowners and businesses to research and understand the specific Rebate programs and requirements in their area, as eligibility criteria and Rebate amounts can vary. Consulting with Solar installers or contacting the relevant government agencies can provide more information on available rebates and how to apply for them.