Households across Australia that install a small scale renewable energy system(solar, wind or hydro) or eligible hot water system may be able to receive a benefit under the Small-scale Renewable Energy Scheme (SRES) to help with the purchase cost.
Sometimes referred to as a rebate program, installing an eligible system allows the creation of Small-scale Technology Certificates (STCs), an electronic form of currency with a value that can be redeemed by selling or assigning them. Most households choose to assign their STCs to their installer for a discount on their system.
Small-scale Technology Certificates (STCs) are created for eligible systems. The number of certificates created is based on the amount of renewable electricity the system produces or the amount of electricity consumption it reduces, and the climate region where it’s installed.
Renewable energy systems
Renewable energy systems are referred to as Small Generation Units (SGUs). There are three types of eligible systems:
- solar power (photovoltaic or PV)
- wind power (turbine)
- hydro (water) power.
Hot water systems
Hot water systems which reduce electricity consumption may be eligible for STCs. There are two types of eligible systems:
- air source heat pump.
Selling or assigning the Small-scale Technology Certificates (STCs)
Owners have two options for selling their STCs:
- Assigning them to an agent, usually the system installer, in exchange for a discount or delayed cash payment; or
- Selling the certificates themselves, either:
- through the open STCs market – pricing subject to market forces; or
- through the STCs Clearing House – price fixed at $40 per STC, excluding GST.