The SRES is a scheme that provides financial incentives for small-scale renewable energy systems, including Solar panels. It works by creating small-scale technology certificates (STCs) for every megawatt-hour of electricity that is generated by an eligible system. These STCs can be traded and sold to electricity retailers, who are required by law to acquire a certain number of certificates each year. The value of STCs can vary depending on market demand and other factors, but they can significantly reduce the cost of a Solar panel installation.
The Solar Homes and Communities Plan is another government initiative that provides rebates for Solar power systems. It offers a one-off Rebate for eligible households and small businesses to install Solar panels or Solar hot water systems. The Rebate amount can vary depending on the location, size, and type of system being installed.
In addition to these federal rebates, some states and territories in Australia also offer their own Solar rebates and incentives. These can include additional financial incentives, such as feed-in tariffs, which allow Solar system owners to earn credits or payments for excess electricity they feed back into the grid.
Overall, Solar rebates in Australia play a crucial role in promoting the adoption of Solar power systems by making them more financially accessible. They help individuals and businesses reduce their reliance on fossil fuels, contribute to the reduction of greenhouse gas emissions, and ultimately save on their electricity bills.