The Australian government offers several Solar Rebate programs to promote the adoption of renewable energy and reduce greenhouse gas emissions. The two main Rebate schemes are the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).
1. Small-scale Renewable Energy Scheme (SRES):
– The SRES provides financial incentives in the form of Small-scale Technology Certificates (STCs) to residential and small-scale commercial Solar system owners.
– STCs are created for eligible Solar systems based on the amount of electricity they are expected to generate over the course of their lifetime (measured in megawatt-hours).
– These STCs can be sold or traded to electricity retailers, who are required by law to acquire a certain number of STCs each year.
– The value of STCs fluctuates based on market demand and supply, and homeowners can use them to reduce the upfront cost of their Solar system installation.
2. Large-scale Renewable Energy Target (LRET):
– The LRET aims to encourage the development of large-scale renewable energy projects, including Solar farms and wind farms.
– Under this scheme, renewable energy power stations are eligible to create Large-scale Generation Certificates (LGCs) based on the amount of electricity they generate.
– Like STCs, LGCs can be sold or traded to liable entities (usually electricity retailers) to meet their obligations under the LRET.
– The value of LGCs is determined by market forces and can provide financial support to large-scale Solar projects.
It is important to note that the availability and amount of Solar rebates may vary over time and across states in Australia. Additionally, eligibility criteria and application processes may differ for different Rebate programs. It is advisable to consult government websites or contact relevant authorities for up-to-date information on Solar rebates in Australia.
