The Australian government offers several Solar rebates and incentives to promote the adoption of renewable energy. The two main programs are the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).
Under the SRES, homeowners and businesses that install small-scale Solar panel systems, wind turbines, or Solar water heaters can receive Small-scale Technology Certificates (STCs). These certificates can be traded and sold to electricity retailers, who are obligated to purchase a certain amount each year. The value of STCs varies based on factors such as the size of the system and the location of installation. The Rebate is usually provided as an upfront discount on the installation cost.
The LRET is focused on large-scale renewable energy projects such as Solar farms and wind farms. It encourages the development of these projects by requiring large electricity retailers to source a certain percentage of their energy from renewable sources. These projects receive Large-scale Generation Certificates (LGCs) based on the amount of electricity generated. Similar to STCs, LGCs can be traded and sold to meet the retailer’s obligations.
In addition to these federal programs, some state governments and local councils also offer their own rebates and incentives for Solar installations. These may include additional discounts, feed-in tariffs, or low-interest loans.
Overall, Solar rebates in Australia aim to make renewable energy more accessible and affordable, helping to reduce greenhouse gas emissions and transition to a cleaner energy future.