Market Update | Government Incentives for Energy Efficiency Upgrades
We have compiled some of the latest industry information to help keep you informed on market movements.
SMALL SCALE TECHNOLOGY CERTIFICATES (STCs)
The number of submissions for Federal Government solar subsidies continue to exceed the predicted targets. As you can see in the graph below, weekly submissions are well above the weekly submissions required to meet the 2017 target.
This means that the value of solar subsidies will more than likely continue to fall. If you’re thinking about getting solar, now is the time to take advantage of the current subsidy trading prices.
VICTORIAN ENERGY EFFICIENCY CERTIFICATES (VEECs)
The Victorian Government set a target of issuing 6 million VEECs between 1 January 2017 and 1 January 2018. As of last week, 5,741,000 applications have been submitted for approval. As there are still 8 months left until this period ends, the value of VEECs will almost certainly keep dropping to account for the higher than expected applications.
If you are thinking about changing your lights to LEDs, now is the time to install them to take advantage of the current value of VEECs.