Under the SRES, eligible customers receive small-scale technology certificates (STCs) for the Solar panels they install. The number of STCs received is based on the amount of renewable energy the system is expected to produce over its lifetime, as well as the location and installation date of the system.
Customers can either assign their STCs to a registered agent in exchange for a discount on the upfront cost of their Solar system, or they can create and sell their STCs on the open market. The value of STCs can fluctuate depending on supply and demand.
The SRES has been instrumental in driving the uptake of Solar panel systems in Australia. It has helped reduce the cost of Solar installations for customers and has contributed to a significant increase in renewable energy generation across the country.
It is important to note that the SRES is subject to ongoing review and adjustments by the Australian government, and changes to the scheme may occur in the future.