The SRES is administered by the Clean Energy Regulator and operates through the creation of small-scale technology certificates (STCs). These certificates are created for every megawatt-hour of electricity that a small-scale renewable energy system generates or displaces. The number of certificates depends on factors such as the system’s location, size, and the amount of electricity it is expected to generate over its lifetime.
Households and small businesses can claim the value of these certificates as a financial benefit when they install an eligible Solar power system. They can either create and sell the certificates themselves or assign them to an agent who will provide an upfront discount on the cost of the system. The value of the certificates depends on market conditions and can vary over time.
In addition to the SRES, some state governments also offer their own Solar rebates or incentives. These can include additional financial incentives, such as grants or subsidies, to further encourage the uptake of Solar power systems. The availability and details of these state-based incentives can vary, so interested individuals should check with their state government or relevant authorities for more information.
Overall, these Solar rebates aim to make Solar power systems more affordable and attractive for households and small businesses, helping to reduce greenhouse gas emissions and transition to cleaner and more sustainable energy sources.