The Australian government provides two main types of Solar rebates:
1. Small-scale Technology Certificates (STCs): STCs are a form of financial incentive provided to households and small businesses that install small-scale renewable energy systems, including Solar panels. The number of STCs received is dependent on factors such as the size of the system, its location, and the amount of electricity it is expected to generate over its lifetime. These certificates can be sold to electricity retailers, who are required by law to purchase a certain number each year. The sale of STCs can significantly reduce the upfront cost of installing Solar panels.
2. Feed-in Tariffs (FiTs): FiTs are additional incentives offered by some state and territory governments to encourage the adoption of Solar energy. Under a FiT scheme, homeowners and businesses that generate excess electricity from their Solar panels can sell it back to the grid at a predetermined rate. This allows Solar system owners to earn money from their excess energy production, further offsetting the cost of their Solar installation.
It is important to note that the availability and value of Solar rebates can vary between states and territories in Australia. Some regions may offer additional rebates or grants to further support the adoption of Solar energy. To find out the specific rebates available in a particular area, individuals and businesses can check the government websites or contact their local energy authority.