The federal government offers a Solar Rebate called the Small-scale Renewable Energy Scheme (SRES) as part of the Renewable Energy Target. Under this scheme, homeowners and businesses installing Solar power systems are eligible to receive Small-scale Technology Certificates (STCs) based on the system’s size and location. These STCs can be sold to electricity retailers, providing a financial benefit that reduces the upfront cost of the Solar installation.
The value of STCs is determined by market demand and supply, which can vary over time. As a result, the Rebate amount can fluctuate. However, the government sets a maximum number of STCs that can be created for each Solar power system, ensuring that the financial benefit does not exceed a certain limit.
In addition to the federal Rebate, some state governments also offer their own Solar rebates to further incentivize the adoption of Solar energy. These state-based rebates can vary in terms of eligibility criteria, Rebate amount, and application process. Examples of state-based Solar rebates include the Victorian Solar Homes Program, the South Australian Home Battery Scheme, and the Queensland Solar for Rentals Program.
Overall, Solar rebates in Australia aim to support the transition to clean and renewable energy sources while providing financial assistance to individuals and businesses interested in installing Solar power systems. These rebates contribute to the growth of the Solar industry, job creation, and reduction of greenhouse gas emissions.