The Small-scale Renewable Energy Scheme (SRES), which operates under the Renewable Energy Target (RET) legislation, has been a major success and has delivered significant benefits.
The SRES should remain as it is currently legislated for the following reasons:
- The SRES has delivered jobs and investment.
- The impact of SRES on retail electricity prices is small and will continue to decline. This is offset by the downward pressure that solar PV has on the wholesale electricity market.
- PV system prices have stabilised and in some cases have increased over the last year.
- Incentives for small-scale solar have been wound back by over 90 per cent in the last five years through the reduction of the RET multiplier and state-based feed-in tariffs. The SRES incentive is already scheduled to be further reduced from 2017, which is appropriate.
- The SRES has leveraged significant consumer investment of more than $10 billion in the last five years, which brings system-wide benefits that deliver value for all electricity users.
- Scrapping SRES would lead to the loss of up to 5,800 jobs.
- The SRES makes a vital contribution to safety and consumer protection by mandating product standards and installation practices.
This briefing paper explores the reasons for retaining the SRES and the jobs and benefits that flow from the scheme.
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