There are two types of financial incentives schemes that help people to install solar power and other types of renewable energy.
Federal Solar Rebate Incentives
The key rebate at the Federal level is the Renewable Energy Target (RET) which comes as Renewable Energy Certificates (RECs). There are two types of REC:
- Small-scale Technology Certificates (STC): this has up to 100 kilowatts (kW) of renewable energy generators.
- Large-scale Generation Certificate (LGC): this is suitable for systems whose limit is beyond 100 kilowatts (kW).
State Solar Rebate Incentives
Furthermore, Feed-in-Tariff scheme is offered to other states in support for solar and other renewables. In this system, the owners are paid for the power they export to the electricity grid. The eligibility for Solar Feed-in-Tariffs is based on whether the state scheme is in operation, system installation date and system size.