The SRES operates through the creation of Small-scale Technology Certificates (STCs). These certificates are awarded to eligible Solar panel systems based on their estimated electricity generation over a 15-year period. The number of STCs granted depends on factors such as the system’s location, size, and the amount of electricity it is expected to generate.
The value of an STC varies depending on market conditions and is determined by supply and demand dynamics. Generally, the more Solar installations there are, the lower the value of each STC. The value of STCs also decreases each year until the scheme ends in 2030.
Homeowners can claim the financial benefit of the STCs themselves or assign them to an accredited installer or agent in exchange for a discounted installation cost. The installer or agent can then sell the STCs to liable entities such as electricity retailers, who are required by law to acquire a certain number of certificates each year.
In addition to the SRES, some state and territory governments also offer their own Solar rebates and incentives. These can include grants, feed-in tariffs, and low-interest loans to help offset the upfront costs of installing Solar panels.
It is important to note that Solar rebates and incentives are subject to change and eligibility criteria. Homeowners interested in accessing these benefits should check with their state or territory government and the Clean Energy Regulator for the latest information.