These STCs can be sold to electricity retailers or other entities that have a legal obligation to acquire them. The value of STCs fluctuates based on market demand and supply. The Rebate significantly reduces the upfront cost of installing Solar systems, making them more affordable for homeowners and businesses.
To claim the STCs, homeowners or installers must register the Solar system with the Clean Energy Regulator before installation. The number of STCs that can be claimed is determined by the system’s installation date, location, size, and the amount of electricity it is expected to generate over its lifetime.
The SRES is set to gradually decrease until it is phased out in 2030. The reduction in rebates over time is intended to align with the decreasing costs of Solar technology. This encourages early adoption and ensures a fair transition for the renewable energy industry.
In addition to the SRES, some states and territories in Australia offer their own Solar rebates and incentives. These programs vary in eligibility criteria and the amount of financial support provided.
Overall, the SRES plays a crucial role in promoting the adoption of Solar energy in Australia by making it more financially viable for individuals and businesses. It helps reduce greenhouse gas emissions, increases renewable energy generation, and supports the country’s transition to a cleaner and more sustainable energy future.