The SRES works by creating small-scale technology certificates (STCs) for every megawatt-hour of electricity that is generated by eligible Solar panel systems. These STCs can then be sold to electricity retailers, who are required by law to acquire a certain number of STCs each year. The value of the STCs depends on various factors, such as the size and location of the Solar panel system.
The SRES is administered by the Clean Energy Regulator, and it has been instrumental in driving the growth of the Solar industry in Australia. The Rebate has helped make Solar energy more affordable for households and small businesses, reducing the upfront cost of installing Solar panels.
In addition to the SRES, there are also state-based Solar rebates and incentives available in certain parts of Australia. These vary from state to state and may include additional financial incentives or support programs for Solar energy systems.
Overall, Solar rebates in Australia play a crucial role in promoting the uptake of renewable energy and reducing greenhouse gas emissions. They make Solar energy more accessible and affordable for individuals and businesses, contributing to the country’s transition to a cleaner and more sustainable energy future.