The number of certificates that can be claimed depends on the size and location of the Solar system. The SRES is designed to encourage the installation of small-scale renewable energy systems, such as Solar panels, Solar water heaters, and heat pump systems.
The value of the certificates can vary based on market conditions, but they generally provide a significant financial incentive for installing Solar systems. The upfront cost of installing a Solar system can be offset by the income generated from selling the certificates.
The SRES is administered by the Clean Energy Regulator, which oversees the creation and trading of the certificates. The regulator determines the number of certificates that can be created for each Solar system based on the system’s capacity and location.
The SRES has been successful in promoting the uptake of Solar energy in Australia. It has contributed to a significant increase in the number of Solar installations across the country, both in residential and commercial sectors.
In recent years, there have been discussions about phasing out the SRES to transition to a more market-based system for supporting renewable energy. However, as of now, the scheme remains in place and continues to provide financial incentives for Solar installations.