The Australian government offers several Solar Rebate programs to support the adoption of Solar energy systems. The two main programs are the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).
1. Small-scale Renewable Energy Scheme (SRES): This program provides financial incentives to residential and small-scale commercial properties that install Solar panel systems, wind turbines, or Solar water heaters. The incentive is in the form of Small-scale Technology Certificates (STCs), which are created based on the system’s expected energy generation over a certain period. These STCs can be sold to electricity retailers or brokers, which can then be used to offset the upfront cost of the Solar system.
2. Large-scale Renewable Energy Target (LRET): This program focuses on large-scale renewable energy projects, including Solar farms and wind farms. Under the LRET, electricity retailers are required to source a certain percentage of their electricity from renewable sources. This creates a demand for Large-scale Generation Certificates (LGCs) that are issued to these projects based on their energy generation. The LGCs can be sold to electricity retailers, generating revenue to support the development of renewable energy projects.
In addition to these programs, some state governments also offer their own Solar rebates and incentives. These vary by state and can include grants, feed-in tariffs (where excess energy is sold back to the grid), and low-interest loans for Solar installations.
Solar rebates in Australia have been instrumental in driving the adoption of Solar energy systems, making them more affordable and accessible to homeowners and businesses. These incentives help reduce greenhouse gas emissions, promote renewable energy generation, and contribute to the country’s overall energy transition.
