This financial incentive, known as the Small-scale Renewable Energy Scheme (SRES), encourages the adoption of small-scale renewable energy systems by making them more affordable for households and small businesses. The SRES is a government program in Australia that aims to reduce greenhouse gas emissions and promote the use of clean energy.
Under the SRES, eligible small-scale renewable energy systems, such as Solar panels, are assigned a certain number of Small-scale Technology Certificates (STCs) based on the amount of renewable energy they are expected to generate over their lifetime. These STCs can be created and traded by system owners, or transferred to registered agents or installers in exchange for a financial benefit.
The value of an STC is determined by market forces and changes over time, but the Rebate is typically applied as a discount on the upfront cost of the renewable energy system. The number of STCs generated depends on various factors such as the system’s capacity, location, and the amount of renewable energy it is expected to produce.
To claim the Rebate, households and small businesses need to have their renewable energy system installed by a Clean Energy Council (CEC) accredited installer and meet certain eligibility criteria. The installer will usually assist with the creation and transfer of STCs, which helps to offset the cost of the system.
Overall, the SRES provides a financial incentive for the uptake of small-scale renewable energy systems by reducing the initial investment required. This helps to make clean energy more accessible and affordable for individuals and businesses, contributing to the transition towards a more sustainable energy future.