In some states, such as New South Wales and Victoria, additional state-based rebates may be available on top of the federal SRES Rebate. These state rebates often have specific eligibility criteria and may be subject to funding availability.
The SRES Rebate is available to residential, commercial, and community installations of Solar panels. The number of STCs that can be created depends on the system’s capacity and the Solar zone it is installed in. Solar zones are categorized based on their Solar radiation levels, with higher levels of radiation resulting in more STCs.
The value of an STC is not fixed and can fluctuate based on market conditions. The STCs can be sold to electricity retailers or other parties, which helps reduce the upfront cost of the Solar panel installation. The Rebate is usually applied at the point of sale, with the installer deducting the value of the STCs from the total installation cost.
To ensure eligibility for the Rebate, it is recommended to use accredited installers and systems that meet the required standards and guidelines. It’s also advisable to check with your state or territory’s government website or relevant authorities for specific information on available Solar rebates and incentives in your location.