The Australian government offers various types of Solar rebates, including:
1. Small-scale Technology Certificates (STCs): STCs are a form of tradable renewable energy currency created under the Small-scale Renewable Energy Scheme (SRES). When a household or business installs a Solar power system, it generates a certain number of STCs based on the system’s size, location, and the amount of electricity it is expected to produce over its lifetime. These STCs can then be sold to electricity retailers or other buyers, providing a financial benefit to the system owner.
2. Feed-in Tariffs (FiTs): FiTs are a payment made by electricity retailers to households or businesses for the excess electricity generated by their Solar power system and exported to the grid. The rate of FiTs can vary depending on the state or territory and the time of day when the electricity is exported.
3. Clean Energy Finance Corporation (CEFC) funding: The CEFC provides low-cost finance to assist businesses in adopting renewable energy technologies, including Solar power systems. This funding helps reduce the upfront costs and makes it easier for businesses to invest in Solar energy.
4. State and territory-based rebates: Some Australian states and territories offer additional Solar rebates on top of the federal incentives. These rebates may be in the form of grants, interest-free loans, or other financial incentives to further support the adoption of Solar power systems.
Overall, Solar rebates in Australia are designed to promote the use of renewable energy, reduce greenhouse gas emissions, and transition towards a more sustainable and clean energy future.