How the Solar Financial Incentive Works
The government introduced Renewable Energy Certificates (RECS). It mandates that the fossil fuel generators have to either build a certain amount of renewable generation in the form of wind or solar or buy the rights to other peoples renewable energy systems in the form of RECS.
The type of RECs that you get for your residential solar system are called “Small Scale Technology Certificates” It is normal that your installer handles the assignment of your STCs to the fossile fuel generators and use the cash to offset the up front cost of the solar system purchase. This is known as ‘assigning STCs’
The STC price is a bit like a share price – it fluctuates on the open market depending on supply and demand i.e. if the industry is booming (usually just prior to the financial incentive being cut!) then the STC price drops and visa versa.
- At the time of writing this (September 2016) the STC price is around $39 per kw.
- Almost all solar systems prices you see advertised will already have the Solar Financial Incentive (STC) included in the price
Here at Greenbuild Energy Solutions we guarantee you the full value of your Financial Incentive when you sign up for a system – It is hassle free as we deal with every aspect of you purchase, Incentive, paperwork, installation and ongoing maintenance should this be required. All of our Installers are highly experienced and of course Clean Energy Council Accredited!