LGCs, large-scale generation certificates, are the certificates created by accredited power stations for each megawatt hour of renewable electricity generated above a baseline. They are traded in the open market, which means there is no single official price.
Where the price has been
At the time of writing, the verified spot range for September 2026 was about $6 to $9. It followed a low near $4 in February 2026, and it compares with about $11 at the start of the fourth quarter of 2025. Do not read that as a guaranteed current price. It is a range and it moves with trades and with supply news.
| Period | Verified spot range |
|---|---|
| Start of Q4 2025 | about $11 |
| February 2026 | low near $4 |
| September 2026 | about $6 to $9 |
Why LGCs are cheap in 2026
Large-scale renewable supply has grown faster than the demand the scheme creates, so certificates are plentiful. Buyers are liable entities such as electricity retailers that must surrender LGCs each year, and there is no price floor or clearing-house backstop. By contrast, the STC market has a clearing house with a fixed $40 ceiling, and its spot has been roughly $38 to $40.
What affects the price you actually get
- Vintage: the year the LGC was created.
- Volume and delivery timing, including whether you sell forward.
- Whether a broker or buyer takes a margin.
- Whether the sale is spot or under a longer contract.
A single quote is not the market. Get at least two, and ask whether the price is quoted before or after any fees.
Spot, forward and contract prices
A spot quote is for delivery now. Forward prices for later vintages can sit above or below it, and a generator with a long-term offtake contract may be paid a price that has little to do with today’s spot. When someone quotes an LGC number, ask which of these it is, which year’s certificates it covers and whether it includes a broker margin.
What this means for you
For a typical mid-sized commercial array the LGC value is a small side-line next to the electricity savings, so it should not drive the design. The change that matters more is the extension of the small-scale scheme: systems above 100 kW and up to 1 MW installed from 1 October 2026 create STCs instead, as the mid-scale solar STCs guide explains. The LGC pillar page covers the basics, and the LGC versus STC answer compares them. For the STC side, see pricing and STC trading. A related page on what an LGC is worth for a 100 kW system puts numbers on it.