The Small-scale Renewable Energy Scheme (SRES) is a federal government program that provides financial incentives to individuals and small businesses for installing eligible small-scale renewable energy systems, including Solar panels, wind turbines, and Solar water heaters. The program works by creating Small-scale Technology Certificates (STCs) for every megawatt-hour of electricity generated by these systems over a set period. These STCs can then be sold or traded to electricity retailers, who are required by law to purchase a certain number of them each year. The value of STCs varies depending on market demand and can offset a significant portion of the upfront cost of installing a renewable energy system.
The Victorian Solar Homes Program is a state-level initiative in Victoria, Australia, aimed at increasing the uptake of Solar panels in households. Under this program, eligible homeowners can receive a Rebate of up to a certain amount for installing Solar panels on their properties. The program also offers interest-free loans for Solar panel installations, allowing homeowners to pay off the cost of the system over time. The Victorian government has set a target of providing rebates for 700,000 Solar panels on homes across the state over a 10-year period.
Both of these Rebate programs aim to encourage the adoption of renewable energy technologies and reduce reliance on fossil fuels. They not only provide financial support to individuals and businesses but also contribute to reducing greenhouse gas emissions and transitioning towards a more sustainable energy future in Australia.