The Australian government offers several types of Solar rebates to promote the use of Solar energy. The most notable Rebate is the Small-scale Renewable Energy Scheme (SRES), which provides financial incentives for installing small-scale Solar systems, including Solar panels.
Under the SRES, homeowners and businesses can create Small-scale Technology Certificates (STCs) based on the amount of electricity their Solar systems are expected to generate over a certain period. These STCs can be sold to electricity retailers, who are required by law to purchase a certain number of them each year. The value of STCs fluctuates based on market conditions, but they can be significant and can be used to offset the upfront cost of installing Solar panels.
Additionally, some state governments in Australia offer their own Solar rebates. For example, the New South Wales government offers the Solar Battery Rebate, which provides financial assistance for purchasing eligible battery systems to store excess Solar energy. Other states may have similar programs to support the adoption of Solar energy.
These rebates can greatly reduce the payback period for Solar investments, making Solar energy more affordable and accessible for households and businesses. They also contribute to reducing greenhouse gas emissions and dependence on fossil fuels, supporting Australia’s transition to a cleaner and more sustainable energy future.