Under the SRES, the government issues small-scale technology certificates (STCs) to eligible Solar system owners. The number of STCs received depends on the size of the system and the location in which it is installed.
These STCs can be traded on the open market or sold to registered agents, who then sell them to liable entities such as electricity retailers. The monetary value of the STCs is determined by market demand and can be used to offset the upfront cost of installing a Solar system.
The SRES is designed to gradually phase out over time as the cost of Solar systems decreases and the uptake of renewable energy increases. As a result, the number of STCs that can be claimed for a Solar system decreases each year.
In addition to the SRES, some state and territory governments in Australia also offer their own Solar Rebate programs. These programs may have different eligibility criteria and incentives, so it is important to check with the relevant government authority or website for specific details.
Overall, Solar rebates in Australia are an effective way to encourage the adoption of renewable energy technologies and reduce reliance on fossil fuels. They help make Solar systems more affordable for households and small businesses, contributing to a cleaner and more sustainable energy future.