The Australian government offers several Solar Rebate programs to promote the use of renewable energy and reduce greenhouse gas emissions. These rebates aim to make Solar panel systems more affordable for homeowners and businesses. The two main Rebate programs in Australia are the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).
1. Small-scale Renewable Energy Scheme (SRES): Under the SRES, homeowners, small businesses, and community groups can receive financial incentives for installing small-scale renewable energy systems, including Solar panel systems. The Rebate is provided in the form of small-scale technology certificates (STCs), which can be claimed by the system owner or assigned to an installer in exchange for a discount on the system’s upfront cost. The number of STCs received depends on the system’s capacity, location, and the amount of electricity it is expected to generate over its lifetime.
2. Large-scale Renewable Energy Target (LRET): The LRET is designed to encourage the development of large-scale renewable energy projects, including Solar farms. The scheme creates a market for large-scale generation certificates (LGCs), which are generated based on the amount of renewable energy produced by eligible power stations. These certificates can be sold to liable entities, such as electricity retailers, to meet their renewable energy obligations. The revenue generated from selling LGCs can help reduce the overall cost of installing Solar panel systems on a large scale.
In addition to these Rebate programs, some state and territory governments in Australia also offer their own Solar incentives, such as feed-in tariffs, which provide homeowners and businesses with credits for excess electricity generated by their Solar panel systems and fed back into the grid.
Overall, Solar rebates in Australia play a crucial role in making Solar panel systems more affordable and accessible, encouraging the adoption of renewable energy and contributing to a cleaner and more sustainable future.