Energy Matters Forums

[4lex]

Hello all. I've been reading about the current STC incentive for solar installations, and haven't really been able to draw any sound conclusions. I gather that we can receive a bunch of these, with a multiplier up to 1.5kwp capacity (currently 3) for new installations, but what's not so clear is how we turn them into cash.

Understand that we can offer them for sale at the govt STC clearing house, but they offer no assurance as to how long that might take, and from their website as at mid december they had apparently only processed 18 buy orders for them at $40.

Apart from that, it looks almost prohibitively wrapped up in red tape to register said STCs in the first place. Has anyone actually done a DIY job on these and successfully managed to sell them?

Cheers,
Alex

[Inspector]

It's an entirely new ball game from when I created mine (called RECs back then) about 18 months ago. The paperwork required is phenomenal. I saw a copy of the STC form for my father's install (completed approx 8 months ago) and it has signatures of installer (electrician), CEC-accredited installer and designer, witness signatures, etc. Unfortunately it just makes it harder for those doing it properly, but doesn't deter those creating fraudulent certificates (or more specifically, some of the signatures look like copies of copies, are undated and other info missing). To do it yourself might be nearly as stressful as building a new house And like you said, there's no guarantee on the time frame when you'll be able to sell them, and at what price. I have heard you can sell them without having to wait for them to reach the front of the queue (I think that's what WellBeingGreen must've done to offload all the $$$$$$$ offshore).

There should be helpful instructions on the REC-registry website (well there was when I did mine).

[Clemo]

You can trade them for cash through a dealer, only takes about 4 weeks to clear ORER and then you get paid.
Current price is anywhere between $30-32 depending on the agent and fee to trade you STC's varies from trader to trader.
You can download forms direct from most dealers websites, fill them in and submit them, via email.
You will need to get your installer to fill in parts of the form such as CEC acreditation (for the design and install if not the same person), electrical licence, panel and inverter make model and serial numbers and you also need to submit a copy of the Certificate Of Compliance Electrical Work, which your installer is required to supply you with, also you will need to send a copy of the invoice/invoices for the cost of the system, installation and metering.

Just a word of warning, read the fine print on the form and remember that you are accepting a risk by assigning your STC's to a business to trade. If they go broke or something then you may lose you money.

Some Solar companies offer a discounted price if you assign the STC's to them, they then trade them and there is no further risk to you, usually they are agents themselves or smaller companies may just offer you a discount based on the STC price at the time of install.

I would not pay the final invoice for your job untill all the required information for your STC forms are forthcoming from the company you buy your system off and make it clear to them that you are going to trade the STC's yourself. Do not sign anything that looks like a STC assignment form from the company supplying the system.

Hope that helps

[Clemo]

I forgot to add, most agents give you the option to either trade through the clearing house (it could take years to get your cash as you have said), or they also allow you to remove them from the clearing house and trade them at current market value whenever you want....for an additional fee.
If you are confident the trader isn't going anywhere its not a bad idea to lodge in the clearing house if the market value is low and pull them out and trade them if the price comes back. You may even get lucky and get your $40 per STC if they go through the clearing house in the interim.

Do some homework, its not that complicated, just make sure you get all the info you need to submit you forms from all parties concerned.

[Sonnig]

but what's not so clear is how we turn them into cash.

Hi Alex,

It may be stating the obvious but are you aware that the majority of installations are done with the STCs being signed over in the contact?

If you do this the installation company will trade them at their leisure (and risk) and you receive a lower out of pocket installation cost. The quote will detail the number of STCs generated for your zone, the system size and the value per STC.

[4lex]

Thanks all. this is about all the history I could find on REC/STC pricing, they're currently trading at $29 ish. I'm not likely to be signing them over to the installer, as I imagine they're not charitable organisations...

[Clemo]

http://www.renewableenergytraders.com.au/

http://www.renewableenergytraders.com.a ... rm_v22.pdf

[Sonnig]

I'm not likely to be signing them over to the installer, as I imagine they're not charitable organisations...

OK, I was just making sure that you were aware that it was an option.

I received $38 each for my system quoted in March 2011 and they are now offering $32 each. When I rang them this morning they also mentioned http://www.green-bank.com.au/recs-calculator.html who I see are offering $29 per STC.

[stkildamick]

The Clearing house will only "clear" when there are buyers. If you can wait then it is worth hanging around and getting the $40.00 STC price. I just deal with ECS, www.ec-services.com.au and they pay in 4 days which makes it easy, you must use their forms. So I miss out on the 40 but I don't have the luxury of being able to wait. Hope that helps.

[Smurf1976]

By far the easiest way is to sign them over to the installer and let them worry about it. That way, you just pay less for the system and leave the hassles to someone else.

Obviously they are making a bit of a profit doing it this way, but it's not worth the hassle of worrying about it for most people in my opinion. Sometimes it's just not worth chasing every last cent...