Small-scale Renewable Energy Scheme (SRES)
The Small-scale Renewable Energy Scheme creates a financial incentive for owners to install eligible small-scale installations such as solar water heaters, heat pumps, solar panel systems, small-scale wind systems, or small-scale hydro systems. It does this by legislating demand for Small-scale Technology Certificates (STCs). STCs are created for these installations according to the amount of electricity they produce or displace. RET liable entities have a legal requirement to buy STCs and surrender them on an quarterly basis.
Large-scale Renewable Energy Target (LRET)
The Large-scale Renewable Energy Target creates a financial incentive for the establishment and growth of renewable energy power stations, such as wind and solar farms, or hydro-electric power stations.