Solar rebates in Australia are primarily provided through the Small-scale Renewable Energy Scheme (SRES). Under this scheme, eligible Solar panel installations and other small-scale renewable energy systems are awarded Small-scale Technology Certificates (STCs).
STCs represent the amount of renewable energy that a system is expected to generate over its lifetime. The number of STCs a system is entitled to is determined by its size, location, and the amount of electricity it is expected to produce. These STCs can then be traded and sold to electricity retailers or other market participants.
The value of STCs varies depending on supply and demand factors, but generally, the more renewable energy a system is expected to generate, the more STCs it will be entitled to and the higher its Rebate value will be. Rebates are typically calculated by multiplying the number of STCs by the market price of each STC.
Solar rebates can significantly reduce the upfront costs of installing a Solar system. The Rebate amount can be deducted from the total cost of the system, making it more affordable for homeowners and businesses. In some cases, the Rebate amount can cover a substantial portion of the installation cost, making the payback period for the investment shorter.
It is important to note that Solar rebates are subject to change over time, as government policies and regulations evolve. Therefore, it is advisable to stay updated on the latest information regarding Solar rebates and consult with reputable Solar installers or industry experts for accurate and current Rebate calculations.