The Small-scale Renewable Energy Scheme (SRES) is an Australian Federal Government operated scheme that encourages the uptake of renewable energy. Under this scheme, you can take advantage of financial incentives, known as Small-scale Technology Certificates (STCs), when you make the switch to renewables from traditional electric or gas hot water systems.
STCs:
- Help reduce the upfront cost of solar and heat pump water heaters when displacing a gas or electric model
- Are available in every state and territory in Australia
- Are applicable in both new and existing homes
How much could I save with STCs?
One STC is equivalent to a megawatt hour per year (MWh/yr) of energy displaced by an eligible system. How much you could save depends on a few key factors:
1. Your location
Where you live will influence the amount of energy you can save. Due to its size and varied climate, Australia is divided into different climatic zones (four for solar, five for heat pump), generally aligned with postcode boundaries.
Each zone is based on their solar radiation level and climatic conditions. Learn what you could be eligible for here if you replace your electric or gas water heater with a renewable option.
2. The capacity and efficiency of your new hot water
The capacity and efficiency of your new solar or heat pump water heater also determines how many STCs you are eligible for. The more your new renewable hot water system displaces the use of electricity or gas, the more STCs you may be able to receive.
Are there other solar and renewable energy incentives available around Australia?
Some states around Australia have their own incentives that operate in addition to STCs. These incentives can provide a further discount to the upfront cost a solar or heat pump hot water system when replacing an electric or gas system.
New South Wales Energy Savings Scheme (ESS)
The Energy Savings Scheme (ESS) is a New South Wales Government initiative introduced to make energy efficient appliances more affordable.
- Solar and heat pump water heaters were included in the scheme in April 2022
- Replace an electric or gas water heater with a renewable alternative, and you may be eligible for a further discount in addition to the STC incentive available under the federal government scheme
- Number of certificates applicable to the installation of a particular system model will be determined by the activity (what the water heater is replacing) and location (postcode)
An Accredited Certificate Provider (ACP) then creates the ESCs for the energy savings that will occur and sells them. Like STCs, ESCs can be used to offer a discount on the purchase and installation price of a solar or heat pump water heater.
For more information, visit: Offers And Incentives – Rheem Hot Water | Rheem Site
When is the ESS applicable?
When you replace an existing electric water heater with:
- an air source heat pump water heater
- a solar (electric-boosted) water heater
When you replace an existing gas water heater with:
- an air source heat pump water heater
- a solar (electric-boosted) water heater
- a solar (gas-boosted) water heater
Victorian Energy Efficiency Target (VEET)
The Victorian Energy Efficiency Target (VEET) offers Victorian Energy Efficiency Certificates (VEECs) for installing energy-efficient water heaters in place of electric or gas.
- Each certificate represents one tonne of greenhouse gas emissions reduction
- Applies to existing homes
- Works as an additional financial benefit to STCs
When is VEECs applicable?
- When installing 5-star gas, heat pump or solar hot water system in place of an old/inefficient electric water heater
- When installing an efficient 5-star gas or gas-boosted solar water heater in place of an old/inefficient gas water heater
Rheem is accredited to create and trade VEECs. Visit our VEECs Offers and Incentives page for more information.
South Australia Retailer Energy Productivity Scheme (REPS)
The Retailer Energy Productivity Scheme (REPS), launched in January 2021, is a South Australian government initiative that encourages energy retailers to provide incentives for households to make the switch to renewable energy.
- Obliged energy retailers have set annual energy productivity targets they need to meet by providing incentive programs for households and businesses
- Efficient water heaters, namely heat pump and solar hot water systems, are included in REPS
- Examples of REPS initiatives include a discount on services, cash rebates or vouchers
For more information on incentives, visit our Offers and Incentives page today.
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Disclaimer: Eligibility criteria apply for each of the schemes.
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