These STCs are created based on the expected energy generation of the Solar system over a 15-year period. The number of STCs generated depends on the size of the system, its location, and the amount of electricity it is expected to generate. The higher the expected energy generation, the more STCs are created, leading to a higher Rebate.
The value of each STC is determined by market forces and can fluctuate. The Rebate amount is calculated by multiplying the number of STCs by the current market value. The Rebate is typically deducted from the upfront cost of the Solar system installation.
To be eligible for the SRES Rebate, the Solar system must be installed by a Clean Energy Council (CEC) accredited installer and use components that meet Australian standards. The installer must also complete the necessary paperwork to create and assign the STCs to the system owner.
The SRES Rebate is available to residential, commercial, and industrial Solar system installations. However, the Rebate amount decreases each year until it eventually phases out. This is to encourage the adoption of Solar power and gradually reduce the reliance on government incentives.
It is important for Solar system owners to be aware of any changes in government policies or regulations that may affect the SRES Rebate program. Consulting with a reputable Solar installer or contacting the relevant government department can provide up-to-date information on eligibility criteria, Rebate amounts, and any changes to the program.