Solar hot water systems absorb the energy from the sun to heat water. Air source heat pump systems draw heat from the air to heat water.
Under the Small-scale Renewable Energy Scheme eligible solar water heaters and air source heat pumps are entitled to a number of small-scale technology certificates (STCs). This is based on the estimated amount of electricity in megawatt hours (MWh) the system displaces over the course of its lifetime. The number of small-scale technology certificates a particular solar water heater or air source heat pump model is entitled to create will depend on its installation date and geographic location identified by its postcode.
Small-scale technology certificates used to be called renewable energy certificates or RECs.
Your small-scale technology certificates may be assigned to a registered agent, commonly a retailer or installer, in exchange for a financial benefit such as a discount off your invoice.
For more information click here: http://ret.cleanenergyregulator.gov.au/Hot-Water-Systems/choosing-hot-water-heat-pump
Information sourced from the Clean Energy Regulator