The SRES is administered by the Clean Energy Regulator and operates through the creation of Small-scale Technology Certificates (STCs). These STCs are generated based on the expected electricity generation of the installed system over a 15-year period. The number of STCs varies depending on the size and location of the system, as well as the amount of electricity it is expected to generate.
Once the Solar energy system is installed, the STCs can be sold to electricity retailers or traders, who are required by law to purchase a certain number of STCs each year. The revenue from selling STCs can then be used to offset the upfront cost of the Solar energy system, reducing the payback period and making it more affordable for individuals and businesses.
In addition to the SRES, some state governments in Australia also offer their own Solar rebates and incentives. These can include additional financial incentives, such as grants or interest-free loans, to further encourage the adoption of Solar energy systems.
It is important to note that the availability and value of Solar rebates may vary over time and depend on factors such as government policies, budget allocations, and the overall demand for Solar energy systems. Therefore, it is recommended to regularly check with relevant government agencies or Solar industry associations for the most up-to-date information on Solar rebates in Australia.