The Small-scale Renewable Energy Scheme (SRES) was introduced in 2011 and is administered by the Clean Energy Regulator. Under this scheme, individuals and small businesses are eligible to receive Small-scale Technology Certificates (STCs), which are a form of currency that can be traded or sold to offset the cost of installing Solar systems.
The number of STCs received depends on factors such as the size of the system and its location. These certificates can then be sold to electricity retailers, who are required by law to purchase a certain number of STCs each year. The value of the STCs fluctuates based on supply and demand in the market.
In addition to the SRES, some state governments in Australia also offer their own Solar rebates and incentives. These vary by state and can include additional financial incentives, grants, or feed-in tariffs, which allow Solar system owners to sell excess electricity back to the grid.
Solar rebates in Australia have been successful in encouraging the adoption of Solar energy systems, leading to a significant increase in the number of residential and commercial installations. They have played a crucial role in making Solar energy more affordable and accessible to a wider range of consumers.
However, it’s important to note that the Australian government has announced plans to gradually phase out the SRES by 2030. This means that the level of financial incentives available for Solar installations may decrease over time, making it even more important for individuals and businesses to take advantage of Solar rebates while they are still available.