RECs, STCs and LGCs
Renewable Energy Certificates (RECs) are a tradable commodity attached to eligible installation of solar power systems. These are broken down into STCs (Small-scale Technology Certificates) and LGCs (Large-scale Generation Certificates. The value of the incentive may be many thousands of dollars, depending on the size of the solar installation. SOLARfied can provide a point of sale discount on the solar system if you elect to sign the RECs over.
The Small-scale Renewable Energy Scheme (SRES):
Residential and The SRES works by issuing Small-scale Technology Certificates (STCs) to eligible households. STCs are based on the expected output of the solar system over a 15-year period. One STC is the equivalent of 1 megawatt-hour of renewable energy. Solar PV systems up to 100 kilowatts (kW) are eligible for STCs. STCs, which can be described as a sort of renewable energy currency, can be bought, traded, and sold, and their value fluctuates with supply and demand.
As STCs are created based on the expected output of the system, they can be created as soon as the system is installed. The system does not need to produce any power before its STCs are created. Under the expectation that they will produce more power, systems installed in sunnier locations are eligible to for a larger number of STCs, while less sunny locations create fewer.
In effect, this provides an up-front discount for those who purchase solar systems for their homes or businesses. SOLARfied assumes the responsibility for creating the STCs as well as the risks associated with holding onto or selling them.
Feed In Tariffs
There may be times when you are generating more solar energy than you require, like on weekends. Feed in tariffs pay the system owners for the surplus electricity exported to the main grid.
Check with your energy retailer to know what rate you would receive.