1. Small-scale Renewable Energy Scheme (SRES): Under this scheme, small-scale technology certificates (STCs) are provided based on the expected electricity generation of the Solar energy system over a 15-year period. These STCs can be traded or sold to recoup a portion of the upfront costs of installing Solar panels.
2. Feed-in Tariffs (FiTs): Some states and territories in Australia offer FiTs, where homeowners or businesses are paid for the excess electricity generated by their Solar panels that is fed back into the grid. The rates and eligibility criteria for FiTs vary across different regions.
3. Solar Homes and Communities Plan: This program provides financial incentives for the installation of Solar panels and batteries in low-income households. It aims to reduce energy costs for vulnerable communities and increase access to clean energy.
4. Clean Energy Finance Corporation (CEFC): The CEFC provides funding and finance options to support the development of renewable energy projects, including Solar energy installations. They offer loans, grants, and equity investments to accelerate Australia’s transition to a clean energy future.
Additionally, some states and territories offer their own Solar rebates and incentives. For example, the New South Wales government provides the Empowering Homes Program, which offers interest-free loans for Solar battery systems. Victoria has the Solar Homes Program, providing rebates and interest-free loans for Solar panels and batteries.
These Solar rebates and incentives play a crucial role in making Solar energy more affordable for individuals and businesses, encouraging the adoption of renewable energy, and reducing reliance on fossil fuels.