These STCs are created based on the expected electricity generation of the Solar power system over a period of 15 years. The number of STCs awarded is determined by the size of the system and the location of the installation.
To be eligible for the SRES, the Solar power system must have a capacity of 100 kilowatts (kW) or less. The installation must also be carried out by a Clean Energy Council (CEC) accredited installer, using approved components and meeting relevant standards.
Once the Solar power system is installed and commissioned, the system owner can create STCs through the REC Registry website. The number of STCs created is equal to the number of megawatt-hours (MWh) of electricity the system is expected to generate over 15 years, multiplied by the STC multiplier. The STC multiplier is determined by the location of the installation and decreases each year.
System owners can choose to keep the STCs and use them to reduce the upfront cost of the system, or they can sell them on the open market to registered agents or other buyers. The price of STCs is market-driven and fluctuates based on supply and demand.
The SRES is an important incentive for residential and small-scale commercial Solar power system installations in Australia. It helps make Solar power more affordable and encourages the uptake of renewable energy in the country.
