Solar rebates in Australia are typically offered through the Small-scale Renewable Energy Scheme (SRES). The SRES provides financial incentives in the form of small-scale technology certificates (STCs) to individuals and businesses that install eligible Solar energy systems, including Solar panels.
The number of STCs received is based on the size of the Solar energy system and the amount of renewable energy it is expected to generate over its lifetime. These STCs can then be sold to electricity retailers, who are obligated to buy a certain number of certificates each year. The value of STCs fluctuates based on market demand and supply.
The Rebate system effectively reduces the upfront cost of installing Solar panels by providing a financial benefit. The value of the Rebate depends on factors such as the size of the Solar energy system and the location of the installation. The Rebate can significantly reduce the payback period for Solar installations and make them more financially viable for homeowners and businesses.
It is important to note that Solar rebates in Australia are subject to periodic changes and updates by the government. The aim of these changes is to gradually phase out the SRES by 2030 and transition towards a more market-based approach for supporting renewable energy. Therefore, it is essential for individuals and businesses considering Solar installations to stay updated on the current Rebate schemes and eligibility criteria.