Rockys Solar are offering to lock in the rate we currently offer for your STCs as an up-front discount on your solar installation when you make a deposit on new and existing quotes for a limited time only. This means that if the STCs continue to drop as they have, you won’t lose any savings, but to be eligible you must pay your deposit now.
The value of STCs that form the existing federal rebate for solar installations has dropped significantly over the past 10 days from $38 to just $32 meaning a lower federal solar rebate for those installing solar.
What are STCs
When you install a solar system the Federal Government offers a rebate in the form of small-scale technology trading certificates (STCs). These certificates are traded through the open market. As with most solar installation companies, Rockys offers a value for the STCs your system is eligible for, in the form of an up front discount on your installation which will be reflected on your quote.
How Much will STCs Reduce the cost of Solar Installation?
While a $6 drop may not sound like a lot, by the time you multiply it by the number of certificates your system is eligible for it adds up to hundreds of dollars. The STC program is currently set to be phased out by the year 2030 and the number of certificates issued for your system drops every year we get closer to that date. As an example. the value of STCs on a 4kW Solar System is currently around $1650 which is taken off the cost of your installation, if the rate of decline continues over the next 10 days it will mean another drop of around $200.
How are STCs Calculated?
The number of STCs you will receive for your solar system is calculated based on how much power your solar system will generate over the lifetime of the program and on your location.
When Will the STC Rebate Program End?
The STC program was set to be phased out by the year 2030 but the federal Government is currently discussing ending the program in 2021 instead. In addition to the dropping value of STCs, bringing the end date forward meaning the number of STCs issued for a solar system may suddenly drop dramatically.
What’s the Bottom Line?
The bottom line is, if you are considering installing solar the time to do it is right now. STCs may lose their value very quickly which could add thousands of dollars to the cost of your solar installation if you don’t act soon. Additionally, as of Monday 19th of August, 2018 the new Solar Victoria rebate was introduced meaning that if you are eligible you can apply for an additional rebate of up to $2225 after you install a new solar system. Installing right now means you have the opportunity to get a larger saving on your solar installation than you are likely to see any time in the future. Don’t miss out. Fill in the quote request form below. If you already have a quote from us, just pay your deposit right away to lock in the current STC rebate.