The main Solar Rebate program in Australia is the Small-scale Renewable Energy Scheme (SRES), which provides rebates for small-scale Solar power systems with a capacity of up to 100 kilowatts. The SRES is administered by the Clean Energy Regulator and operates through the creation of Small-scale Technology Certificates (STCs).
Under the SRES, eligible Solar power system owners can create STCs based on the expected electricity generation of their system over a 15-year period. These STCs can then be sold to electricity retailers, who are required by law to purchase a certain number of STCs each year. The price of STCs can vary depending on market conditions, but they generally provide a significant financial incentive to reduce the upfront cost of installing Solar panels.
The exact Rebate amount depends on factors such as the size of the Solar power system and the location of installation. In general, larger systems and installations in areas with higher Solar radiation receive more STCs and hence higher rebates. The Rebate is typically applied as a point-of-sale discount, reducing the upfront cost for the system owner.
It’s important to note that the SRES is subject to a gradual phase-out, with the number of STCs that can be created reducing each year until it ends in 2030. This means that the Rebate amount available for new installations will decrease over time.
In addition to the SRES, some state and territory governments in Australia also offer their own Solar rebates and incentives. These programs vary in eligibility criteria and Rebate amounts, so it’s important to check with the relevant government agency for specific information.
Overall, Solar rebates in Australia play a crucial role in promoting the adoption of Solar power systems by making them more financially viable for households and businesses. They help reduce the upfront cost and make Solar power a more affordable and sustainable energy option.