Solar - STC's & LGCs
The SRES creates a financial incentive for owners to install small scale solar installations under 100kW. The SRES works by issuing Small-Scale Technology Certificates (STCs) for these installations. The number of STCs issued is based on how much electricity the system will generate until 2031. One STC is the equivalent of one megawatt-hour of electricity.
For example, a 100kW system (approx 300-400 panels) will produce around 1,934MWh worth of electricity until 2031, meaning your business would currently receive 1,934 STCs.
STCs are an electronic form of currency that can be purchased, sold and traded on an open market, often to recover a portion of the cost of purchasing a system. (It’s common practice to allocate the STCs to the system provider in exchange for a discount on the purchase price.) Their value fluctuates with supply and demand.
For example, if the value of an STC is $30, you’d receive a $58,000 discount off the cost of a 100kW system.
The LRET creates a financial incentive for large scale renewable energy installations such as Solar PV Systems, above 100kW. After the system has undergone an accreditation process the owners can generate Large-Scale Generation Certificates (LGCs).
One LGC can be created for every megawatt-hour of electricity generated. Like STCs, LGCs can be purchased, sold and traded on an open market and their value fluctuates according to supply and demand.
The key difference between STCs and LGCs is that LGCs are produced on an on-going basis (once the system has been installed, is producing electricity, and has undergone the accreditation process) as opposed to STCs which are created upfront.
For example, a 200kW system would produce an average solar output of 320,000kWh, or 320MWh. This means they would produce 320 LGCS.
LGCs currently trade for around $80, which means at the current value, a 200kW system would receive around $25,600 per year in government incentives.
Victorian businesses are currently eligible for heavily subsidised LED lighting upgrade through ‘Victorian Energy Upgrades’ formerly the ‘VEET’ scheme. This means you can have all of your lighting upgraded to LED for little to no capital investment.
Contact us to find out if your business is eligible for a SUBSIDISED lighting upgrade.
NSW & SA
NSW and SA businesses are currently eligible for a subsidised LED lighting upgrade through the Energy Efficiency Scheme (EES) and the Retailer Energy Efficiency Scheme (REES). ESS legislates free installation is prohibited, but heavy subsidies apply.
In SA businesses can enjoy a certain percentage of their facility lighting upgraded to LED free of charge depending energy reduction.
WA, NT, QLD, TAS, ACT
Due to our large buying power, our strong relationship with lighting distributors and our efficient model we are able to offer businesses outside of states with a Government energy scheme subsidised installation prices.
Contact us today to find out just how affordable a lighting upgrade is with Australian Energy Upgrades.
Energy Management Rebate & Incentive
The Victorian Energy Upgrades program helps households and businesses save energy and money with a range of discounts and special offers on selected energy-saving products and services.
Discounts and special offers are only available from participating businesses. Ask us to find out if you’re registered as a participating business under the program or view the register of participating businesses online.
The program can help you with the cost of purchasing: under floor insulation, weather-proofing strips, double-glazed windows, chimney dampers and vent covers, energy-efficient fridges and freezers, and help with recycling the old fridge, more energy-efficient heating and cooling, hot water system upgrades, energy and water-saving shower heads, energy-efficient lighting, energy-efficient TVs, energy-efficient clothes dryers, energy-saving pool pumps and standby power controllers.