As a matter of fact, they will start to gradually reduce in January 2017 until they drop out altogether in 2030. Why?
Small-scale Technology Certificates (STC) are currently used to reduce the purchase price of your new Solahart system, and can often save you thousands of dollars. The number of certificates created will vary based on:
- the size and model of solar water heater or PV system you choose
- the location of the installation (or zones)
- the amount of electricity in megawatt hours (MWh) the system will generate over what’s known as a deeming period (15 years for PV and 10 Years for Solar Hot Water) or 2030 – whichever comes first:
- For a Solar Hot Water system, each STC represents 1 megawatt hour (MWh) of electricity displaced over a 10 year period or until 2030.
- For Solar Power system, each STC represents 1 megawatt hour (MWh) of renewable electricity produced over 15 years or until 2030.
The STCs produced by the installation of a Solahart system can be traded and sold on the open market or your local dealer can exchange them as discounted price of your system to the current value of STCs. This saves you the hassle of dealing with the certificates post-purchase and reduces the initial capital outlay required.