These rebates are typically offered in the form of Small-scale Technology Certificates (STCs), which can be traded and sold to help offset the cost of purchasing and installing the Solar system. The number of STCs a system is eligible for depends on factors such as the size and location of the installation, and the amount of electricity it is expected to generate over its lifetime.
The exact value of the Rebate varies depending on the current market price of STCs, which can fluctuate. The government sets a target each year for the number of STCs that need to be created, and this target influences the price of the certificates. As the market price of STCs decreases, so does the value of the Rebate.
To claim the Rebate, homeowners or businesses need to engage an accredited installer who will calculate the number of STCs the system is eligible for and apply for them on their behalf. Once the STCs are created, they can be sold on the open market or transferred to a registered agent who will provide a discount on the cost of the Solar system.
In addition to the federal government’s Rebate program, some state and territory governments also offer their own incentives to further reduce the cost of installing Solar panels. These additional rebates can vary in value and eligibility criteria, so it’s important to check with the relevant government authority or a Solar installer to see what incentives are available in your area.
Overall, Solar rebates in Australia play an important role in promoting the adoption of renewable energy and reducing greenhouse gas emissions. By making Solar panels more affordable, these incentives help homeowners and businesses take advantage of clean energy and contribute to a more sustainable future.
