Solar rebates in Australia are typically offered in the form of Small-scale Technology Certificates (STCs). STCs are created when a Solar panel system is installed and can be sold or traded to electricity retailers. The value of STCs is determined by factors such as the size of the system and the location of installation.
The government sets a yearly target for the number of STCs that need to be created, which creates a demand for homeowners and businesses to install Solar panels. This demand drives up the price of STCs, effectively reducing the cost of installing Solar systems.
In addition to STCs, some state governments also offer additional rebates or incentives to further reduce the cost of installing Solar panels. These rebates can vary by state and may include grants, interest-free loans, or feed-in tariffs.
Solar rebates have played a crucial role in the rapid growth of Australia’s Solar industry. They have made Solar power more accessible and affordable, leading to increased adoption of renewable energy and a reduction in greenhouse gas emissions.