Under the SRES, homeowners and businesses that install solar power systems with a capacity of up to 100 kilowatts are eligible to create STCs. The number of STCs that can be created depends on the size of the system and the location of the installation. These STCs can be traded or sold to electricity retailers, who are required by law to purchase a certain number of STCs each year. The value of STCs fluctuates based on market demand.

February 25, 2024by Luke0

This system provides an incentive for homeowners and businesses to invest in Solar power systems, as the value of the STCs can help offset the initial cost of installation. It also helps to support the growth of the renewable energy industry by creating a market for the trading of STCs.

In addition to the financial benefits, installing Solar power systems can also help reduce electricity bills, decrease reliance on fossil fuels, and reduce greenhouse gas emissions. This can have positive environmental impacts and contribute to efforts to combat climate change.

Overall, the Solar Renewable Energy Scheme provides a valuable incentive for individuals and businesses to invest in renewable energy, helping to create a more sustainable energy future.

Share on:

Leave a Reply

Your email address will not be published. Required fields are marked *