The two main types of Solar rebates available in Australia are the Small-scale Renewable Energy Scheme (SRES) and various state-based feed-in tariff programs.
1. Small-scale Renewable Energy Scheme (SRES):
The SRES is a federal government initiative that provides financial incentives for small-scale renewable energy systems, including Solar panels. Under this scheme, homeowners and businesses can create Small-scale Technology Certificates (STCs) based on the expected energy generation of their Solar power system. These STCs can then be sold to electricity retailers, who are required by law to purchase a certain number of certificates each year. The value of each STC depends on market conditions and can be traded to help offset the cost of purchasing and installing Solar panels.
2. State-based Feed-in Tariffs (FiTs):
Various states and territories in Australia offer feed-in tariff programs, which pay homeowners and businesses for the excess electricity their Solar panels generate and feed back into the grid. The rates for these programs vary depending on the location and electricity retailer, but they generally provide a financial incentive for Solar system owners to export excess energy. Some programs offer a fixed rate for a specific period, while others have a variable rate based on market conditions.
It’s important to note that the availability and specifics of Solar rebates can vary between states and territories, and they are subject to change over time. Homeowners and businesses considering installing Solar panels should research the specific rebates and incentives available in their area and consult with local Solar installers or government agencies for the most up-to-date information.