Small-scale Technology Certificates (STCs)
Federal government currently offers an incentive for renewable energy called the Small-scale Renewable Energy Target (SRET). Under the SRET, Small-scale Technology Certificates (STCs) can be created when you install an eligible renewable energy system.
Solar power systems qualify for STCs depending on the amount of electricity they are expected to generate normally over a period of 15 years. 1MWhr = 1 SREC
The number of certificates that you can create will depend on your location and the size of the system you install. To see how many STCs your system may attract you can use the Clean Energy Regulator’s calculator.
More info here
IMPORTANT NOTE: On November 16th 2012 the federal government announced that it will be reducing the Solar Credits multiplier from 2 to 1, six months earlier than expected. From January 1st 2013 small scale solar systems will no longer have a multiplier and STCs will be created at 1:1.
The Solar Credits Program is a government incentive for photovoltaic solar power systems, where a multiplier is placed on the number of STCs that can be created on first 1.5kW of solar installed. This increases the number of STCs a solar power system is eligible to create. For systems that are larger than 1.5kW the additional capacity is calculated at a 1:1 rate of STC creation. Note that the multiplier will be reduced each year as per below.
The current SRES Legislation multiplier is as follows.
|9 June 2009 – 30 June 2010||5 x [number of eligible STCs]|
|1 July 2010 – 30 June 2011||5 x [number of eligible STCs]|
|1 July 2011 – 30 June 2012||3 x [number of eligible STCs]|
|1 July 2012 – 30 June 2013||2 x [number of eligible STCs]|
|1 July 2013 – onwards||1 x [number of eligible STCs](ie no multiplier)|
For more information on the Solar Credits Program including eligibility please click here
Feed in Tariffs
On September 3rd 2012 the federal government announced changes to the Standard Feed in Tariff (SFIT) and the phasing out out the Transitional Feed in Tariff (TFIT). As of the 1st January 2013 the new Standard Feed In Tariff (SFIT) offers customers a minimum of 8 cents for the power fed back into the grid from your solar system. This payment is based on the wholesale price of electricity.
For further information please click here
Victoria’s Transitional Feed in Tariff (TFIT) gave eligible properties with solar power installations a minimum credit of 25 cents per kWhr for excess electricity exported into the grid. The scheme will began on 1st of January 2012 and operate until 2016. Changes announced by the government in early September required you to have your system installed and paperwork submitted by 30th September 2012 to qualify for TFIT.
The TFIT will be available to households, business and community orgaisations, some of the eligibility requirements include:
- Available for systems up to 5kW in size
- Households where the system is installed on the primary place of residence
- Consume under 100MWhrs of electricity per year