The federal government offers a Solar Rebate program called the Small-scale Renewable Energy Scheme (SRES), which provides financial incentives for small-scale Solar power systems. Under this scheme, homeowners and small businesses are eligible to receive small-scale technology certificates (STCs) for their Solar system installation.
The number of STCs received depends on the size of the Solar system and its location, as well as the amount of electricity it is expected to generate over its lifetime. These STCs can then be sold to electricity retailers, who are required by law to purchase a certain percentage of their electricity from renewable sources.
The value of STCs fluctuates based on market demand, but they can significantly reduce the upfront cost of installing Solar panels. The Rebate amount is usually deducted from the total cost of the system at the point of sale, making Solar power more affordable for consumers.
In addition to the federal Rebate, some state governments in Australia also offer their own Solar rebates and incentives. These vary by state and may include additional financial incentives or feed-in tariffs, which allow Solar system owners to sell excess electricity back to the grid at a premium rate.
It’s important to note that Solar rebates and incentives can change over time, so it’s advisable to check with the relevant government agencies or consult a Solar installer for the most up-to-date information on available incentives.