The Small-scale Renewable Energy Scheme (SRES) is a government initiative in Australia that aims to promote the installation of small-scale renewable energy systems, including Solar photovoltaic (PV) systems. The scheme provides financial incentives in the form of Small-scale Technology Certificates (STCs).
Under the SRES, the number of STCs generated is determined by the size of the Solar system and its location. The larger the system, the more STCs it generates. Additionally, the location of the system is also taken into account, as some areas receive more sunlight and are therefore more conducive to Solar energy generation.
Once the Solar system is installed and commissioned, the system owner can create STCs equivalent to the system’s estimated electricity generation over a fifteen-year period. These STCs can then be sold to electricity retailers or brokers, who are required by law to acquire a certain number of STCs each year. The revenue generated from the sale of STCs can be used to offset the upfront cost of installing the Solar system.
The value of STCs can vary depending on market conditions and demand. The number of STCs required for a Solar system installation is also subject to periodic reductions, reflecting the declining cost of Solar technology. However, it is important to note that the SRES is a government incentive program and its availability and conditions are subject to change.
In summary, the Small-scale Renewable Energy Scheme (SRES) in Australia provides a Rebate for Solar system installations through the creation and sale of Small-scale Technology Certificates (STCs). The number of STCs generated is based on the size of the system and its location, and these certificates can be sold to offset the cost of installation.