Solar power systems can be expensive to install, and the cost can deter many households and businesses from adopting this renewable energy source. To overcome this barrier, the Australian government offers various rebates and financial incentives to make Solar power more affordable.
One of the most well-known Solar rebates in Australia is the Small-scale Renewable Energy Scheme (SRES). Under this scheme, households and small businesses are eligible to receive Small-scale Technology Certificates (STCs) when they install eligible Solar power systems. These STCs can be traded or sold to electricity retailers, who are required by law to buy a certain number of certificates each year. The value of these certificates can significantly reduce the upfront cost of installing a Solar power system.
The amount of STCs received depends on various factors such as the size of the system, its location, and the amount of Solar power it is expected to generate over its lifetime. The SRES is scheduled to gradually decrease each year until it is phased out in 2030.
In addition to the SRES, some state governments in Australia also offer their own Solar rebates and incentives. For example, the New South Wales government provides the Solar for Low Income Households program, which offers rebates to low-income households to help them install Solar power systems. Similarly, the Victorian government offers the Solar Homes Program, which provides rebates and interest-free loans for Solar installations.
These Solar rebates and incentives not only make Solar power more affordable but also help reduce greenhouse gas emissions and promote the transition to clean energy in Australia. By encouraging the installation of Solar power systems, the government aims to increase the country’s renewable energy capacity and reduce reliance on fossil fuels.