1. Small-scale Technology Certificates (STCs): Under the Small-scale Renewable Energy Scheme (SRES), homeowners and small businesses can create STCs for their Solar power systems. The number of STCs generated depends on the size of the system and the location’s Solar radiation levels. These certificates can be sold to electricity retailers, who use them to meet their renewable energy obligations.
2. Feed-in Tariffs: Some Australian states and territories offer feed-in tariffs (FiTs) to households and businesses that generate excess electricity from their Solar systems and export it back to the grid. FiTs provide a payment per kilowatt-hour (kWh) for the electricity fed back into the grid, reducing electricity bills and providing a financial incentive for Solar system owners.
3. Solar Homes and Communities Plan: The Australian government’s Solar Homes and Communities Plan offers rebates for Solar power systems to eligible low-income households, community organizations, and schools. These rebates aim to reduce energy costs for vulnerable groups and promote the uptake of Solar energy in communities.
4. Clean Energy Finance Corporation (CEFC) loans: The CEFC provides loans to businesses, local governments, and community organizations to invest in renewable energy projects, including Solar power systems. These loans help reduce the upfront costs and provide favorable financing terms for Solar installations.
5. State-specific incentives: Some Australian states and territories offer additional Solar rebates and incentives. For example, the New South Wales government provides the Empowering Homes Program, which offers interest-free loans and rebates for Solar battery installations to eligible households.
Solar rebates in Australia help reduce the payback period for Solar power systems, making them more financially viable for homeowners and businesses. These incentives aim to accelerate the transition to renewable energy and reduce greenhouse gas emissions.