The Australian government offers several types of Solar rebates to promote the use of Solar energy. The most well-known Rebate is the Small-scale Renewable Energy Scheme (SRES), which provides a financial incentive for the installation of small-scale Solar power systems, including Solar panels and Solar water heaters.
Under the SRES, homeowners and businesses can create Small-scale Technology Certificates (STCs) for their Solar energy systems. The number of STCs generated depends on the size of the system and the region’s Solar zone rating, which takes into account factors such as the amount of sunlight the area receives. These STCs can then be sold to electricity retailers, who are required by law to purchase a certain number of STCs each year.
The value of STCs fluctuates based on supply and demand, but they can significantly reduce the upfront cost of installing a Solar power system. The Rebate amount is calculated based on the number of STCs generated, which is determined by the system’s capacity and the location. However, the Rebate is typically deducted from the total cost of the system at the point of sale.
In addition to the SRES, some state governments in Australia offer their own Solar rebates and incentives. These vary by region and may include additional financial support or grants. For example, the New South Wales government has the Empowering Homes program, which provides interest-free loans for Solar and battery storage installations.
It’s important to note that Solar rebates and incentives can change over time, as they are subject to government policies and funding availability. Therefore, it’s advisable to check with relevant government websites or consult with Solar installation companies for the most up-to-date information on Solar rebates in Australia.