The federal government provides Solar rebates through the Small-scale Renewable Energy Scheme (SRES), which offers a financial incentive in the form of Small-scale Technology Certificates (STCs). These certificates are created when a Solar panel system is installed and can be traded or sold to recoup a portion of the installation cost.
The amount of STCs received depends on the size of the Solar panel system and its geographical location. The value of STCs is determined by the market and can fluctuate. Homeowners and businesses can use the STCs to discount the upfront cost of their Solar panel installation, making it more affordable.
In addition to the federal Rebate, some state governments also offer their own Solar rebates. These rebates vary between states and can provide additional financial incentives to further reduce the cost of installing Solar panels. State rebates may have specific eligibility criteria and funding limits, so it is important to check with the relevant state government department or agency for more information.
Overall, Solar rebates in Australia are designed to support the uptake of renewable energy and help individuals and businesses transition to cleaner and more sustainable energy sources. By providing financial incentives, governments aim to make Solar panel systems more accessible and affordable, ultimately contributing to the reduction of greenhouse gas emissions and the mitigation of climate change.