The Small-scale Renewable Energy Scheme (SRES) provides a financial incentive for individuals and businesses to install small-scale renewable energy systems such as rooftop solar, solar water heaters and heat pumps. This occurs in the form of small-scale technology certificates (STCs), which are issued up front for a system’s expected power generation (based on its installation date and geographical location) until the SRES expires in 2030.
The price of STCs changes according to market conditions. The total level of subsidy you receive will depend on several factors, including the location and size of the solar system and the price of STCs at the time the system was installed.
Victorian State Government
To help Victorians take control of their energy bills and tackle climate change, the State Government is providing a rebate on residential solar PV systems. Currently the rebate is $1,850. To check your eligibility and find out more visit Solar Victoria.
To further reduce the up-front cost of solar panel (PV) systems, you may be eligible to apply for an interest-free loan equivalent to the amount of your rebate.
CLICK HERE to find out more and to see if you qualify.
How can I afford to pay?
The Solar Savers Bulk Buy program has been designed to help everyone, regardless of financial situation, to install solar. If you prefer, you can pay for the system upfront, organise your own finance, or add the cost of the solar system to your mortgage. The choice is yours.
If you have a pension card you may be eligible for a low interest loan from Bank Australia to pay off your Solar PV system over 10 years. Bank Australia is a 100% customer-owned bank that is committed to responsible lending.