The federal government offers a Solar Rebate called the Small-scale Renewable Energy Scheme (SRES). Under this scheme, homeowners and businesses that install eligible Solar energy systems are eligible to receive small-scale technology certificates (STCs). These certificates can be traded and sold to electricity retailers, providing a financial benefit to the system owner.
The number of STCs received depends on factors such as the size of the system and the location of installation. The value of each STC is determined by market demand and fluctuates accordingly. The value of the Rebate can be used to offset the upfront cost of installing a Solar energy system, making it more affordable for consumers.
Additionally, some state governments offer their own Solar rebates to further incentivize the adoption of Solar energy. These state-based rebates vary in terms of eligibility criteria, Rebate amounts, and application processes. Some states also offer feed-in tariffs, which allow Solar system owners to sell excess electricity generated by their systems back to the grid at a premium rate.
Overall, these Solar rebates aim to accelerate the transition to renewable energy by reducing the financial barriers associated with installing Solar energy systems. By making Solar power more affordable, the rebates help to increase the uptake of Solar energy, reduce reliance on fossil fuels, and contribute to the reduction of greenhouse gas emissions. Additionally, the rebates stimulate the renewable energy industry, creating jobs and economic growth in the sector.