1. Small-scale Renewable Energy Scheme (SRES): Under this scheme, homeowners and small businesses are eligible to receive Small-scale Technology Certificates (STCs) for installing eligible Solar power systems. These STCs can be sold to electricity retailers, who are required by law to buy a certain number of them each year. The value of STCs depends on factors such as the size of the system and the location.
2. Feed-in Tariffs (FiTs): Some state governments offer feed-in tariffs, which provide a financial incentive for homeowners and businesses to export excess Solar energy back to the grid. The rates and terms of these tariffs vary between states and electricity retailers.
3. State-based rebates and grants: Certain states and territories provide additional rebates and grants to encourage the uptake of Solar power. For example, the New South Wales government offers the Empowering Homes Program, which provides interest-free loans for Solar battery installations. Victoria has the Solar Homes Program, which offers rebates for Solar panel installations.
These Solar rebates make Solar power more affordable by reducing the upfront costs of purchasing and installing Solar panels. By offsetting a portion of the initial investment, these incentives help homeowners and businesses recoup their expenses over time through reduced energy bills. This not only benefits individual consumers but also contributes to the overall goal of transitioning to clean and renewable energy sources in Australia.