There are two main types of Solar rebates available in Australia: the Small-scale Renewable Energy Scheme (SRES) and state-based rebates.
1. Small-scale Renewable Energy Scheme (SRES):
The SRES is a federal government program that provides financial incentives for small-scale renewable energy systems, including Solar panels. Under this scheme, homeowners and small businesses receive Small-scale Technology Certificates (STCs) based on the amount of electricity their Solar panels generate. These STCs can be sold to electricity retailers, who are required by law to buy a certain amount each year. The value of STCs fluctuates depending on market conditions, but they can significantly reduce the upfront cost of installing Solar panels.
2. State-based rebates:
In addition to the SRES, several Australian states and territories offer their own Solar rebates. These rebates vary in terms of eligibility criteria, funding amounts, and application processes. Some states provide upfront rebates, while others offer feed-in tariffs, which allow Solar system owners to earn money by exporting excess electricity back to the grid. Examples of state-based rebates include the Solar Homes Program in Victoria and the Home Battery Scheme in South Australia.
Solar rebates in Australia aim to make Solar panel installations more affordable, thereby encouraging individuals and businesses to adopt renewable energy. By reducing reliance on fossil fuels and promoting the use of clean energy sources, these rebates contribute to the overall goal of reducing greenhouse gas emissions and combating climate change.