1. Small-scale Technology Certificates (STCs): STCs are a form of tradable certificates that are issued to homeowners or businesses for the amount of renewable energy their Solar panels generate. These certificates can be sold to electricity retailers, who are required by law to purchase a certain number of them to meet their renewable energy obligations. The value of STCs depends on factors such as the size of the Solar system, location, and market demand.
2. Feed-in Tariffs (FiTs): FiTs are a payment made by electricity retailers to homeowners or businesses for the excess electricity generated by their Solar panels and fed back into the grid. The rate at which the excess electricity is purchased is determined by the state or territory government and can vary. FiTs can either be a flat rate or a variable rate based on the time of day or season.
These Solar rebates aim to make Solar panel installation more affordable and attractive by reducing the upfront cost and providing ongoing financial benefits. The availability and amount of rebates may differ between states and territories in Australia.