Solar Hot Water Small-Scale Technology Certificates (STCs)
Renewable Energy Certificates (RECs) are part of Australia's Solar Credits Scheme. Recently renamed to small-scale technology certificates or STCs, RECs are an electronic currency earned when any renewable energy system such as solar panels or solar hot water systems are installed. This electronic currency can result in a huge discount on solar energy systems at point of sale; alternatively, they can be traded for cash. The value of RECs depends on the area in which you live and is fluctuates according to market forces.
A single REC is equivalent to one megawatt hour of electricity generation. RECs can be seen as a measure of the efficiency of a solar hot water system and its ability to generate free hot water using the sun's heat. Essentially, more efficient systems earn more RECs. While RECs are offered for both grid connected systems and off grid systems, more RECs are generally earned for grid connected systems.
With climate change at the forefront of Australian politics and rising energy bills across the country, it is no surprise that more and more Australians are taking advantage of RECs – or STCs – and installing solar power in their homes and businesses. All Modern Solar products qualify for RECs, which can reduce the cost of a Modern system by thousands of dollars, depending on the area you live and the model purchased.