The Australian government offers various Solar rebates and incentives to promote the adoption of Solar energy. One of the primary incentives is the Small-scale Renewable Energy Scheme (SRES), which provides a financial benefit known as Small-scale Technology Certificates (STCs).
Under the SRES, individuals and businesses that install eligible small-scale Solar systems, such as Solar panels or Solar water heaters, can create STCs. The number of STCs generated depends on the system’s size and location, as well as the amount of renewable energy it is expected to produce over its lifetime.
STCs can be traded on the market or sold to registered agents, who then sell them to liable entities such as electricity retailers. The value of STCs fluctuates based on supply and demand. By creating and selling STCs, Solar system owners can receive an upfront discount on the cost of their Solar installation.
Apart from the SRES, various state governments in Australia also offer additional Solar rebates and schemes. For example, the New South Wales government provides the Energy Savings Scheme, which offers financial incentives for installing energy-efficient measures, including Solar panels.
These Solar rebates and incentives help to make Solar energy more affordable and encourage the transition to renewable energy sources. They not only reduce the upfront cost of installing Solar systems but also contribute to lower electricity bills and a more sustainable future.