These STCs are given to eligible Solar system owners based on the amount of electricity that their system is expected to generate over a certain period of time. The number of STCs received is determined by factors such as the location, size, and installation date of the Solar system.
Once a Solar system owner receives the STCs, they can be sold to electricity retailers or other buyers, who use them to meet their renewable energy obligations. The value of the STCs varies according to market demand and can be redeemed for a discount on the upfront cost of installing a Solar system.
The SRES is available to small-scale Solar systems with a capacity of up to 100 kilowatts. It also covers other eligible technologies such as Solar water heaters, heat pumps, and small-scale wind systems. The program is administered by the Clean Energy Regulator and is funded through the sale of STCs.
In addition to the SRES, some state and territory governments in Australia also offer their own Solar rebates and incentives. These can vary in terms of eligibility criteria, funding amounts, and application processes. It is recommended to check with the relevant state or territory government for specific details on local Solar rebates.
Solar rebates in Australia have played a significant role in promoting the uptake of Solar energy systems. They have helped reduce the upfront cost of installing Solar panels and have made Solar energy more accessible to a wider range of households and businesses.