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| Renewable energy credits (STCs, LGCs) FAQ's |
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FAQ's>Renewable energy credits ( STCs, LGCs)
Frequently Asked Questions What is an STC?Which systems are eligible for STCs? Which are eligible for LGCs?How do I get reneweable energy rebates for my STCs and LGCs?What is the solar multiplier?How do I calculate the STCs for my solar photovoltaic power system?What is the current dollar value of an STC or LGC?
What is an STC?When you install an eligible solar panel, solar hot water system or heat pump, you can claim a set number of tradeable Small-scale Technology Certificates from the Australian federal government’s Solar Credits system. These are calculated according to the amount of electricity in megawatt hours (MWh) your system will generate over its estimated lifespan. Each STC is worth a certain amount of money on the STC market. Which systems are eligible for STCs? Which are eligible for LGCs?STCs are available for solar photovoltaic (PV) power systems, solar hot water, wind power, small hydro electric and heat pumps which generate under a certain amount of kilowatts (kW). Anything larger than this is considered a large-scale generator and receives Large-scale Generation Certificates (LGCs) instead. Greenway Energy can tell you more about which type of certificate your system is eligible for. How do I get renewable energy rebates for my STCs and LGCs?Each STC/LGC is worth money and can be traded – like the way a share is traded on the stockmarket. The simplest and fastest way to receive the benefit from your STCs is as a discount on your initial purchase by a provider like Greenway Energy. Greenway buys your STCs as a rebate and does all the complicated work of calculating, claiming and trading them. What is the solar multiplier?The Australian government's Office of the Renewable Energy Regulator’s Solar Credits scheme gives you extra STCs for your small-scale renewable energy system. With this scheme, the number of eligible STCs you receive for the first 1.5 kilowatts (kW) of your system’s capacity is multiplied by a specific number – the solar multiplier. From 1 July 2011, the government is reducing the solar multiplier from 5 to 3 (instead of 4, as was previously announced), and plans to reduce it each year after that.
*unless contracts made on the basis of a multiplier of 4 were signed and a deposit paid prior to 5 May 2011, in which case the multiplier of four (4) does apply. From 2013, there will be no multiplier, only a flat rebate. The best way to get the most STCs, and therefore the highest rebate, is to install your solar power system while the solar multiplier is still in place. How do I calculate the STCs for my solar photovoltaic power system?You can use this calculator to get an indication of the number STCs you can claim, but only if you know the specifications of the solar system you wish to install. The easiest way to find out what your rebate could be is to contact Greenway Energy. What is the current dollar value of an STC or LGC?Just like a share in a company, STCs and LGCs are traded on open markets. The price of an each type of certificate varies depending on supply and demand. Generally, individuals and companies sell their STCs or LGCs at a retail rate to wholesalers, who then trade them on the open market. The wholesale rate is available on the Green Energy Markets website.
Got more questions about STCs, LGCs, solar credits or solar rebates? Ask Greenway Energy.
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