The Australian government offers several Solar Rebate programs, the most prominent being the Small-scale Renewable Energy Scheme (SRES). Under this scheme, households and small businesses are eligible to receive Small-scale Technology Certificates (STCs) for installing eligible renewable energy systems, such as Solar panels.
The number of STCs received depends on the size of the system and the location, as well as the amount of electricity the system is expected to generate over its lifetime. These STCs can then be sold or traded to electricity retailers, who are required by law to buy a certain number of certificates each year. The value of STCs fluctuates based on supply and demand, which can impact the overall Rebate amount.
In addition to the SRES, some states and territories in Australia also offer their own Solar Rebate programs. For instance, the New South Wales (NSW) government provides the Empowering Homes program, which offers interest-free loans and rebates for the installation of Solar battery systems.
Overall, Solar rebates in Australia aim to incentivize the adoption of renewable energy technologies, reduce greenhouse gas emissions, and transition towards a more sustainable energy future. By reducing the upfront costs, these rebates make Solar power more affordable for households and businesses, encouraging them to invest in renewable energy systems.