These rebates are typically offered through the Small-scale Renewable Energy Scheme (SRES), which is a part of the Australian government’s Renewable Energy Target (RET) program. The SRES provides financial incentives in the form of Small-scale Technology Certificates (STCs) to individuals and businesses that install eligible Solar panel systems.
The number of STCs received depends on factors such as the size of the Solar panel system and its location. These STCs can be traded and sold to electricity retailers, who are required by law to purchase a certain number of certificates each year. This creates a market for STCs and helps reduce the upfront cost of Solar panel installation.
The value of the Rebate depends on the number of STCs received, which is determined by the system’s capacity and the location’s Solar zone rating. The higher the Solar zone rating, the more STCs a system is eligible for, and thus the higher the Rebate amount.
In addition to the federal government rebates, some state and territory governments also offer their own incentives and rebates for Solar panel installation. These additional rebates can further reduce the upfront cost and vary depending on the location.
Solar rebates in Australia have played a significant role in promoting the adoption of Solar energy. They have helped make Solar panel systems more affordable for homeowners and businesses, driving the growth of renewable energy generation across the country.