Solar rebates in Australia are a part of the federal government’s Renewable Energy Target (RET) scheme. The RET aims to increase the generation of electricity from renewable sources, such as Solar, wind, and hydro power.
The primary Solar Rebate available in Australia is the Small-scale Renewable Energy Scheme (SRES). Under this scheme, homeowners and businesses that install small-scale Solar power systems (generally systems with a capacity of less than 100 kilowatts) are eligible to receive Small-scale Technology Certificates (STCs).
STCs are created based on the amount of renewable energy a Solar power system is expected to generate over its lifetime. These certificates can be traded and sold to liable entities, such as electricity retailers, who are required to surrender a certain number of certificates each year to meet their obligations under the RET scheme.
The number of STCs a Solar power system is eligible for depends on factors such as its capacity, location, and the amount of renewable energy it is expected to generate. The value of STCs can vary over time, as it is influenced by factors such as supply and demand in the market.
To claim the Solar Rebate, homeowners and businesses can either assign their STCs to an installer or sell them directly to an STC agent. The value of the STCs is then deducted from the upfront cost of purchasing and installing the Solar power system.
In addition to the national SRES, some state governments in Australia also offer additional Solar rebates and incentives. These can include grants, loans, or feed-in tariffs, which allow system owners to sell excess electricity generated by their Solar panels back to the grid at a premium rate.
It is important to note that Solar rebates and incentives can vary depending on the location, size, and type of Solar power system being installed. It is recommended to check with the relevant government authorities and installers to determine the specific rebates and incentives available in a particular area.