There is no single official “STC price in 2025” because the spot market is a series of private trades and different brokers publish slightly different figures. What can be said with confidence is where the market sat relative to the ceiling.
Where the market sat
Through 2025 the STC market traded within a few percent of the $40 Clearing House price. The Clean Energy Regulator’s data shows a closing spot price of $39.95 on 23 May 2025, which is typical of the period. Prices dipped a little below that when supply was heavy and recovered as the queue cleared.
For an annual average, a reasonable range is the high $30s to just under $40. If you need a precise figure for a contract, tax or modelling, use a broker’s published daily series and calculate the average yourself over the dates you need.
The end of 2025
We have not verified a precise year-end close, and it is safest to assume the market stayed close to the same band, so check a broker’s published history for the exact figure. Two things were happening at once. Rooftop solar creation was lower than in 2024, with the regulator reporting 25.0 million STCs in 2025 against 34.1 million in 2024. At the same time, the Cheaper Home Batteries Program, which began on 1 July 2025, generated a large new flow of battery certificates that the government buys rather than retailers. Those flows are excluded from the standard figures, which is why you should read the regulator’s notes when you compare years.
Why the average hides the interesting part
Averages smooth over the pressure points. The spot price is lower in weeks when supply is heavy, as it is after a rush of installs, and higher when the queue is short. The gap between the spot price and $40 is the number to watch, not the level. The reasons for that gap are covered in what drives STC prices.
2026 so far
At the time of writing the spot market has been roughly $38 to $40, much as in 2025. The ceiling still anchors it, and the Clearing House still sells at a fixed $40 ex GST. For a view on direction see how much STCs may fall next year, and for the long view the highest and lowest STC prices on record.
What this means for installers
Last year’s average is a weak guide to this week’s payment. Your actual proceeds depend on the rate your trader locks when your claim is lodged and complete. Energy Merchants publishes its rate daily on the pricing page, and how STC trading works explains the steps between install and payment. For deeper context, what an STC is worth in 2026 is updated as the market moves.