These rebates are typically provided in the form of a financial incentive or a discount on the cost of purchasing and installing a Solar energy system. The specific amount of the Rebate can vary depending on factors such as the size of the system, its location, and the type of technology used.
In Australia, Solar rebates are primarily administered through the Small-scale Renewable Energy Scheme (SRES), which is a part of the Renewable Energy Target (RET) program. Under the SRES, eligible Solar energy systems, including Solar panels and Solar water heaters, are awarded small-scale technology certificates (STCs) based on the amount of renewable energy they are expected to produce over a certain period of time.
These STCs can be sold to electricity retailers, who are required by law to purchase a certain number of them each year. The value of the STCs can fluctuate depending on the supply and demand in the market, and this value is typically passed on as a discount to the consumer at the time of purchase. This discount effectively reduces the upfront cost of installing a Solar energy system.
In addition to the federal incentives provided through the SRES, some state and territory governments in Australia also offer their own Solar rebates and incentives. These additional rebates can further reduce the upfront costs of installing Solar panels and vary depending on the location.
Overall, Solar rebates in Australia play a crucial role in making Solar energy more affordable and accessible to homeowners and businesses. By reducing the upfront costs, these incentives help to encourage the adoption of renewable energy and contribute to the country’s overall goal of transitioning to a more sustainable energy future.