These STCs can then be sold to electricity retailers, who are required by law to purchase a certain number of them each year. The value of the STCs depends on various factors, including the size of the system and the current market price.
To be eligible for the SRES, the Solar panels must be installed by a Clean Energy Council (CEC) accredited installer and meet certain quality and performance standards. The scheme is designed to encourage the uptake of small-scale renewable energy systems and reduce greenhouse gas emissions.
The Rebate amount received through the SRES can significantly reduce the upfront cost of installing a Solar panel system. However, the value of the Rebate is expected to decline gradually over time as the cost of Solar panels decreases and the renewable energy market grows.
In addition to the SRES, some states and territories in Australia also offer their own Solar Rebate programs. These programs may have different eligibility criteria and Rebate amounts, so it’s important to check with the relevant state or territory government for more information.
Overall, the SRES is the main Solar Rebate program in Australia, providing financial incentives for homeowners and small businesses to invest in renewable energy systems.