Government Rebates
The Renewable Energy Target (RET) scheme is designed to ensure that 20% of Australia’s electricity comes from renewable sources by 2020. The RET scheme is helping to transform our electricity generation mix to cleaner and more diverse sources and supporting growth and employment in the renewable energy sector. Since January 2011 the RET scheme has operated in two parts-the Small-scale Renewable Energy Scheme (SRES) and the Large-scale Renewable Energy Target (LRET).
Small-Scale Renewable Energy Scheme
The SRES creates a financial incentive for households, small businesses and community groups to install eligible small-scale renewable energy systems such as solar photo voltaic (PV) systems. It does this by legislating demand for Small-scale Technology Certificates (STCs). STCs are created for these systems at the time of installation, according to the amount of electricity they are expected to produce or displace in the future.
While it is possible for owners of renewable energy systems to create and sell the STCs themselves, in practice, installers of these systems usually offer a discount on the price of an installation , or a cash payment, in return for the right to create the STCs.
Large-Scale Renewable Energy Target
The LRET creates a financial incentive for the establishment or expansion of renewable energy power stations, such a wind and solar farms or hydro-electric power stations. it does this by legislating demand for Large-scale Generation Certificates (LGCs). One LGC can be created for each megawatt-hour of eligible renewable electricity produced by an accredited renewable power station.
Important News
The scheme is currently under review by the new Coalition Government and is in danger of being scrapped. It is important to begin looking at purchasing a solar power system as soon as possible to ensure you receive the maximum rebates currently available.
The SRES creates a financial incentive for households, small businesses and community groups to install eligible small-scale renewable energy systems such as solar photo voltaic (PV) systems. It does this by legislating demand for Small-scale Technology Certificates (STCs). STCs are created for these systems at the time of installation, according to the amount of electricity they are expected to produce or displace in the future.
While it is possible for owners of renewable energy systems to create and sell the STCs themselves, in practice, installers of these systems usually offer a discount on the price of an installation , or a cash payment, in return for the right to create the STCs.
