The Australian government offers various types of Solar rebates to encourage the adoption of Solar power. The most common and well-known Rebate program is the Small-scale Renewable Energy Scheme (SRES), which provides financial incentives for installing small-scale Solar panel systems, wind turbines, and Solar water heaters.
Under the SRES, individuals and businesses are eligible for Small-scale Technology Certificates (STCs) for every megawatt-hour of renewable energy their Solar power system generates over a period of 15 years. These STCs can be sold to electricity retailers, who are then required by law to surrender a certain number of STCs to the government each year. The value of STCs fluctuates based on supply and demand but can significantly reduce the upfront cost of installing Solar panels.
Apart from the SRES, some state governments in Australia also offer additional rebates and incentives to promote Solar power. These state-based programs may include grants, interest-free loans, or feed-in tariffs, where excess electricity generated by the Solar power system is sold back to the grid at a premium rate.
Solar rebates in Australia play a crucial role in making Solar energy more accessible and affordable for homeowners and businesses. By reducing the upfront costs, these incentives encourage more people to invest in Solar power systems, leading to increased renewable energy generation and a reduction in greenhouse gas emissions.