There are two main types of Solar rebates available in Australia:
1. Small-scale Technology Certificates (STCs): STCs are a form of tradable certificates created under the Small-scale Renewable Energy Scheme (SRES). When you install a Solar power system, you are eligible to receive a certain number of STCs based on the system’s size and location. These certificates have a monetary value and can be sold to electricity retailers or buyers in the market. The value of STCs may vary depending on market conditions, but they can significantly reduce the upfront cost of installing Solar panels.
2. Feed-in Tariffs (FiTs): FiTs are a payment made to Solar system owners for the excess electricity they generate and feed back into the grid. The rate at which you will be paid for your excess electricity depends on your state or territory’s specific FiT scheme. Some regions offer a flat rate per kilowatt-hour, while others have time-of-use tariffs where the rate varies depending on the time of day. FiTs can help offset your electricity bills and provide ongoing financial benefits.
It’s important to note that the availability and value of Solar rebates may vary depending on your location and the specific government policies in place. Additionally, these incentives are subject to periodic changes and may be reduced or phased out over time.
To access Solar rebates, you will need to meet certain eligibility criteria and comply with relevant regulations. It is advisable to consult with a Solar installer or check the government’s official websites for accurate and up-to-date information on available rebates and the application process.