There are two main types of Solar rebates available in Australia: the Small-scale Renewable Energy Scheme (SRES) and various state-based rebates.
1. Small-scale Renewable Energy Scheme (SRES):
– The SRES is a federal government initiative that provides financial incentives in the form of Small-scale Technology Certificates (STCs).
– STCs are created for eligible Solar panel systems and are calculated based on the system’s size, location, and the amount of renewable energy it is expected to produce over its lifetime.
– These STCs can be sold to electricity retailers, who are required by law to purchase a certain number each year. The revenue from selling STCs can significantly reduce the upfront cost of Solar installation.
2. State-based rebates:
– In addition to the SRES, various states and territories in Australia offer their own Solar rebates.
– Some examples include the Solar Homes Program in Victoria, Home Battery Scheme in South Australia, and the Solar for Rentals pilot program in New South Wales.
– These state-based rebates provide additional financial incentives on top of the federal SRES, further reducing the cost of Solar installation.
It is important to note that the availability, eligibility criteria, and value of Solar rebates can vary between states and change over time. Therefore, homeowners and businesses interested in installing Solar panels should check with their relevant state government or local authorities to find out the current rebates and incentives available.