Solar PV STC Assignment Form
If you install a small-scale solar PV system, you will generally be eligible to receive Small-Scale Technology Certificates or STCs (formerly known as Renewable Energy Certificates or RECs) under the Federal Government’s Renewable Energy Target (RET).
You can either:
- Assign the right to create STCs to your solar retailer or installer, in exchange for a discount on the upfront cost of your system, or
- sell the certificates yourself, either through the open STC market (based on variable market prices) or through the STC Clearing House (at a fixed price of $40).
The number of certificates (and hence the total value) will depend upon the amount of electricity the system creates or displaces. For eg, larger solar PV systems should generate more electricity and therefore a higher number of STCs.
The Federal Government’s Solar Credits scheme also multiplies the number of certificates for the first 1.5 kilowatts of your installed solar system. The value of your certificates will also depend upon your REC zoning.
If you choose to assign the right to create STCs to your solar retailer or installer, you will need to sign a Solar PV STC Assignment Form. A generic version of the form is available from the Office of the Renewable Energy Regulator (ORER), although you may receive a customised form from your solar retailer or installer.
ORER is a Federal Government statutory authority established to oversee the implementation of the Large-scale Renewable Energy Target (LRET) and the Small-Scale Renewable Energy Scheme (SRES).
Who fills out the form?
Some sections of the Solar PV STC Assignment Form will need to be completed by the solar retailer/installer, and you will need to complete other sections.
Where does the form go?
Your solar retailer or installer will usually forward the Solar PV STC Assignment Form to ORER on your behalf. Make sure you confirm with your solar retailer or installer that this is the case and send it yourself if they are unable to assist. Also be sure to retain a copy for your own records.
Things to watch out for:
Make sure you double-check that all of the fields in the form have been correctly filled in before you sign, especially your system capacity (rated power output – for example 1.5kW), the number of STCs you will receive and whether the associated value will be provided as an upfront discount or other payment. Be wary of signing any forms where these fields have been left blank or where you have only seen extracts from the original form.
The value of STCs is subject to fluctuations in the market. Something else to check in the fine print is whether it mentions who is liable to cover the difference between the cost of the system and the value of the associated STCs if this value drops.
What happens next?
If you assign your STCs to your solar retailer or installer, you should receive an upfront discount or other form of payment on your solar PV system.
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