The SRES was introduced in 2011 as part of the Australian Government’s efforts to encourage the installation of small-scale renewable energy systems, such as Solar panels and Solar water heaters. The scheme provides a financial incentive for individuals and businesses to install these systems by offering them STCs for the electricity they generate.
The number of STCs a system is eligible for depends on its location, the amount of electricity it generates, and the period over which it is expected to generate electricity. The owners of these systems can create STCs by registering their installations with the Clean Energy Regulator and submitting the necessary documentation.
Once the STCs are created, they can be sold to electricity retailers or other entities that have a legal obligation to meet renewable energy targets. The value of the STCs is determined by market forces and can fluctuate over time. The revenue generated from selling the STCs can help offset the cost of installing the Solar panels or Solar water heaters.
The SRES has successfully encouraged the uptake of small-scale renewable energy systems in Australia. It has supported the installation of millions of Solar panel systems across the country, contributing to a significant increase in renewable energy generation.
It is important to note that the SRES is separate from other Solar Rebate programs offered by state and territory governments in Australia. These programs may provide additional financial incentives or rebates to further support the adoption of Solar energy.