The Small-scale Renewable Energy Scheme (SRES) is a national program that provides financial incentives to households and businesses that install small-scale renewable energy systems, including Solar panel systems. Under the SRES, participants receive Small-scale Technology Certificates (STCs) for the amount of electricity their system is expected to generate over a 15-year period.
These STCs can be sold to electricity retailers, who are required by law to purchase a certain number of certificates each year. The value of the STCs depends on the market demand and fluctuates over time. The Rebate amount is deducted from the upfront cost of purchasing and installing the Solar panel system, making it more affordable for consumers.
The Victorian Solar Homes Program is a state-level initiative in Victoria that offers rebates for Solar panel installations. Under this program, eligible homeowners can receive a Rebate of up to a certain amount for the installation of Solar panel systems. The program aims to support the transition to renewable energy and reduce greenhouse gas emissions in the state.
These Rebate programs aim to make Solar panel installations more affordable for homeowners and businesses, thereby encouraging the uptake of renewable energy and reducing dependence on fossil fuels. They also contribute to the overall goal of reducing greenhouse gas emissions and combating climate change.