The purpose of these rebates is to make Solar power more affordable and accessible to homeowners and businesses. By reducing the initial investment required, the government aims to stimulate the adoption of renewable energy and reduce greenhouse gas emissions.
In Australia, Solar rebates are primarily provided through the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET). The SRES offers small-scale technology certificates (STCs) to households and businesses that install Solar power systems with a capacity of up to 100 kilowatts. The number of STCs granted depends on the system’s size, location, and the amount of electricity it is expected to generate over its lifetime. These STCs can be traded or sold to electricity retailers, who are required by law to purchase a certain number each year.
The LRET, on the other hand, supports large-scale renewable energy projects, including Solar farms and wind farms. It provides a financial incentive, known as large-scale generation certificates (LGCs), to these projects based on the amount of renewable electricity they generate. Like STCs, LGCs can be traded or sold to liable entities, such as electricity retailers, to help them meet their renewable energy targets.
In addition to these national schemes, some state governments and territories also offer their own Solar rebates or feed-in tariffs. These additional incentives vary in terms of eligibility criteria, payment rates, and duration.
Overall, Solar rebates in Australia aim to accelerate the transition to renewable energy by making Solar power systems more affordable and attractive to consumers. They not only help individuals and businesses reduce their electricity bills but also contribute to a cleaner and more sustainable energy future.
