The Australian government offers various Solar rebates and incentives to promote the adoption of renewable energy. The main Rebate program is the Small-scale Renewable Energy Scheme (SRES), which provides financial support for small-scale Solar panel, wind, and hydro installations.
Under the SRES, households and businesses that install eligible Solar energy systems can create Small-scale Technology Certificates (STCs). The number of STCs generated depends on the system’s size, location, and the amount of renewable energy it is expected to produce over its lifetime. These STCs can then be sold to electricity retailers, who are required by law to purchase a certain number each year.
The value of an STC varies depending on market conditions, but it generally represents a discount on the upfront cost of the Solar system. The more STCs a system generates, the higher the Rebate amount. The Rebate is typically applied at the point of sale, reducing the total cost of the Solar installation.
In addition to the federal government Rebate, some state governments also offer additional incentives. For example, the New South Wales government offers the Empowering Homes program, which provides interest-free loans for Solar battery installations.
It’s important to note that Solar rebates and incentives are subject to change and may vary depending on the location and system size. Therefore, it’s advisable to check with the relevant government agencies or consult with a Solar installer to understand the current Rebate options available in your area.