The Australian government offers a range of Solar rebates and incentives to promote the adoption of Solar power systems. One of the most well-known programs is the Small-scale Renewable Energy Scheme (SRES), which provides financial incentives in the form of Small-scale Technology Certificates (STCs).
Under the SRES, homeowners and businesses that install eligible Solar power systems are entitled to create STCs. The number of STCs created depends on the system’s capacity, 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 them each year.
The value of STCs fluctuates based on supply and demand, and it is typically higher in areas with less Solar penetration. The Rebate amount is calculated by multiplying the number of STCs by the market price. This Rebate can significantly reduce the upfront cost of installing Solar panels.
Additionally, some state and territory governments in Australia offer their own Solar rebates and incentives. These programs vary in their eligibility criteria and Rebate amounts, but they generally aim to further support the uptake of Solar power systems.
It’s important to note that Solar rebates and incentives are subject to change, and their availability may vary depending on the location and specific circumstances. Therefore, it is advisable to check with relevant government authorities or consult with Solar installers to determine the current rebates and incentives available in a particular area.