The rebate is provided in the form of Small-scale Technology Certificates (STCs), which are created for each megawatt-hour of electricity the system is expected to generate over its lifetime. These STCs can be sold to electricity retailers, who are required by law to buy a certain number of them each year.

February 5, 2024by Luke0

The government provides the Rebate in the form of Small-scale Technology Certificates (STCs) as an incentive for installing renewable energy systems such as Solar panels. STCs are created based on the expected electricity generation of the system over its lifetime. For every megawatt-hour of electricity the system is projected to generate, a certain number of STCs are issued.

Electricity retailers are obligated by law to purchase a specific number of STCs each year. These retailers use the purchased STCs to meet their renewable energy targets as set by government regulations. By buying STCs, retailers are essentially supporting the uptake of renewable energy systems and contributing towards reducing greenhouse gas emissions.

The Rebate system benefits both system owners and electricity retailers. System owners receive a financial incentive through the sale of STCs, which helps reduce the upfront cost of installing renewable energy systems. Electricity retailers, on the other hand, fulfill their regulatory obligations and help promote the transition to cleaner energy sources.

Overall, the Rebate system encourages the adoption of renewable energy systems by making them more financially viable for consumers and ensuring that retailers support the growth of renewable energy in the electricity market.

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