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Who: Home owners, landlords and renters are eligible for the STCs and these are created for eligible systems. If you are renting, you will need your landlord’s permission before the new system is installed.
Overview: STCs are created under the Federal Government Mandatory Renewable Energy Act which encourages the uptake of renewable energy. Two types of systems may be eligible for a small number of STCs: 1) Solar hot water systems and 2) heat pump hot water systems. The number of STCs will depend on an estimate of the amount of electricity in megawatt hours (MWh) the system will displace over a 10 year period.
The STC’s have value. They are traded on the STC market in a similar fashion to shares on the ASX. The price of STCs fluctuates depending on supply and demand and in most cases fluctuates between $15-$40. The average number of STCs for an eligible system in WA is around 26 STCs giving a total discount or amount payable between $390 and $1,040.
STCs can be paid to you at point of sale as a discount or a monetary payment; this is most common. The other option for owners is to create and sell the STCs themselves, but this process is complicated. At point of sale you assign your STCs to a registered Agent by completing and signing an STC Assignment form. The financial incentive is usually based on the STC price at the time. Make sure to check with your system retailer/agent the STC price they are
offering for your system.
For more information go to the site of the Clean Energy Regulator.