In 2001 the federal government instigated the Renewable Energy Target (RET) for customers to receive solar subsidies. As of 2011, Small Technology Certificates (STCs) and Large Generation Certificates (LGCs) became the commodities within the scheme.
Eligible activities create the Certificates and liable entities (such as energy retailers) are required to surrender a set number of certificates to the Clean Energy Regulator each year.
The certificates are traded on energy markets and therefore have a price which fluctuates with the amount of activity.
STCs are created for eligible solar PV installations with a size less than 100kW. Each one is generally equivalent to 1 megawatt hour of renewable energy generated and the number of certificates available for a given system is based on the energy it will generate over the deeming period (usually five years.)
After installation these Certificates are created and then sold to recoup some of the cost of the system installation.
Rather than pay the total system cost and then reimburse you later, Shine On offers this discount as an up-front discount to simplify the process.
Solar PV systems over 100kW are deemed to be power stations and are entitled to LGCs.
Similar to STCs each certificate is equivalent to 1 megawatt hour but rather than being created upfront for the deeming period LGCs are calculated and issued on an annual basis.
What does this mean to you?
Shine On offers a discount to the purchase price of your solar system that can be as much as 30% of the total system price depending on location, install date and current market values.
This discount is quoted within your solar proposal and is an immediate upfront discount on the price of the system installation.