First things first. It probably helps to know what an STC is and what it can mean for you, so let’s quickly break it down.
So, what exactly is an STC?
Small-Scale Technology Certificates, more commonly referred to as STC’s, effectively act as an upfront discount for those purchasing small solar systems (100kW or less). STC’s can be thought of as a ‘renewable energy currency’, where the value fluctuates with supply & demand and is recalculated annually – until the scheme is entirely phased out.
STC’s are forecast to decrease every calendar year and were intended to see out a 15 year cycle. At present the scheme is scheduled to phase out in 2030, however throughout these years, the STC rebates will become smaller and smaller as the scheme comes to an end.
What can STC’s mean for you?
You, the customer, benefit from STC’s as they leave more money in your pocket. While the difference between $28 and $36 may not seem significant, over the cost of an entire system it equates to a substantial amount. To put it into perspective, if you were to have a 6.6kW system (standard sized system for a 4 bedroom home) installed before the 31 December 2022 rather than in 2023, you could stand to save around $300 in STC’s alone – a serious saving not to be sneezed at! Simply put, the sooner you commit to solar and lock in the current STC rate, the more you could save.
STC’s being scrapped altogether?
There has been a bit of chatter recently after a report from the Australian Competition and Consumer Commission (ACCC) surfaced calling for STC’s to be abolished altogether – without the remaining years of the scheme being seen out. While this may be chatter for now, there is no certain path for STC’s and what lays ahead. The only thing we can tell you for certain is that to get the highest STC rebate possible, the sooner you act the more you’ll save. Just by waiting until 2023 will see you paying around $300 more for the same system, in STC differentiation alone (not to mention the power bills that you’ll be hit with between now and then!).
For more information or to make the switch to solar today, get in touch with your local solar experts today on 1300 18 20 50.