The main Solar Rebate program in Australia is the Small-scale Renewable Energy Scheme (SRES), which is administered by the Clean Energy Regulator. Under this scheme, homeowners and small businesses are eligible to receive Small-scale Technology Certificates (STCs) when they install eligible Solar panels or Solar water heaters.
The number of STCs a system is eligible for depends on factors such as the size of the system, its location, and the amount of electricity it is expected to generate over its lifetime. These STCs can then be sold to electricity retailers, who are required by law to buy a certain number of certificates each year. The money received from selling the STCs can be used to reduce the upfront cost of purchasing and installing the Solar energy system.
The value of the STCs fluctuates depending on market conditions, but generally, the more STCs a system is eligible for, the greater the financial incentive. The SRES has a gradual phase-out mechanism in place, reducing the number of STCs eligible for each system over time. This means that the financial incentive decreases as the scheme progresses.
In addition to the SRES, some state governments in Australia also offer their own Solar rebates and incentives. These can vary between states and may include additional financial support or grants for Solar installations. It is recommended to check with the relevant state government or local authorities to find out about any additional rebates or incentives available in specific areas.
Overall, Solar rebates in Australia play a crucial role in promoting the adoption of Solar energy systems by making them more affordable for homeowners and businesses. By reducing the upfront cost of installation, these financial incentives encourage more people to invest in renewable energy and contribute to reducing carbon emissions.