The federal government of Australia offers a Solar Rebate known as the Small-scale Renewable Energy Scheme (SRES). Under this scheme, homeowners, small businesses, and community organizations are eligible to receive Small-scale Technology Certificates (STCs) for installing eligible Solar energy systems.
The number of STCs received depends on the size of the Solar system and its geographical location. These certificates can then be sold or traded to electricity retailers, who are required to surrender a certain number of certificates each year to meet their renewable energy targets.
The value of the STCs is not fixed and can vary depending on market conditions. The Rebate effectively reduces the upfront cost of installing Solar panels, as the STCs have a monetary value that can be used as a discount on the system’s purchase price.
Additionally, some state governments in Australia also offer their own Solar rebates on top of the federal scheme. These state rebates vary in terms of eligibility criteria and financial value. For example, the New South Wales government offers the Solar Homes Package, which provides rebates and interest-free loans for Solar panel installations.
These Solar rebates aim to encourage the uptake of renewable energy and reduce greenhouse gas emissions. By offsetting the upfront costs, they make Solar energy more affordable and attractive for homeowners and businesses. The reduced payback period of the investment makes Solar energy systems a financially viable option for many Australians.