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Small-scale Renewable Energy Scheme (SRES)
The Federal Government has designed the Small-scale Renewable Energy Scheme (SRES) to create an incentive for residents to install renewable generation systems such a solar. This part of the Government's broader commitment of generating 20% of Australia's electricity from renewable sources by 2020.
When an individual installs a solar system they are awarded Small-scale Technology Certificates (STCs) according to the amount of electricity the system will generate. Electricity retailers have a legislated obligation to purchase STCs which have been created and are placed on the STC market.
Customers can choose to keep the STC they have created, but most choose to assign the STCs to their solar retailer in return for a discount on the price of the solar system they have purchased. The size of the discount will depend on how many STCs they created and the market price of STCs at the time.
To find out more about STCs and the SRES click here
Solar Credits are the instrument by which the Federal Government increases the number of Small-scale Technology Certificates (STCs) a customer receives when they install a solar system. The Solar Credit multiplies the number of STCs a customer is eligible for.
The Solar Credit multiplier is a follows:
|1 July 2010 - 30 June 2011||5 x No. of STCs|
|1 July 2011 - 30 June 2012||3 x No. of STCs (4 x if installed before 5 May 2011.|
|1 July 2012 - 30 June 2013||2 x No. of STCs|
|1 July 2013 - onwards||No multiplier|
For further information regarding the Australian Government's Solar Credits program click here.