The number of STCs a homeowner or small business is eligible to receive depends on the size of the system and the region in which it is installed. The SRES assigns a specific number of STCs to each system based on its expected greenhouse gas reduction over its lifetime.
To claim the STCs, the homeowner or small business must use an accredited installer to install the system and complete the necessary paperwork. The installer will usually calculate the number of STCs the system is eligible for and deduct the value of the STCs from the upfront cost of installation.
Once the system is installed and the STCs are claimed, they can be traded and sold through the STC market. Electricity retailers are required by law to meet a certain quota of STCs each year, so they often purchase them from homeowners and small businesses to fulfill this obligation. The price of STCs can vary depending on supply and demand, but selling them can help to significantly offset the cost of installing a Solar system.
It’s important to note that the SRES is subject to change and may be phased out or modified in the future. It’s always recommended to check with the relevant authorities or consult with a Solar installer to ensure you have the most up-to-date information on available rebates and incentives.