Homeowners often notice that the dollar value per STC on their quote is lower than the price quoted on a news site or comparison page, and wonder why. The gap is normal, and understanding it lets you tell a fair quote from a poor one.
Where the quote price comes from
STCs trade in a market, and the Clean Energy Regulator also operates a clearing house where certificates can be sold at a fixed $40. The market price has been roughly $38 to $40 at the time of writing. See our STC spot price page for the current picture and how the ceiling works in spot versus the clearing house.
An installer does not receive spot. They sell to a registered agent or trader at a rate quoted daily, which is below spot because the buyer takes on:
- the risk that a claim fails an audit or photo check
- the cost of lodging, checking and settling thousands of claims
- the time between creating and selling a certificate
The installer then uses that rate, or a slightly different one, to price your discount. Installers get a better rate when they bring in volume or settle quickly, which is why prices vary between companies. We explain this on what installers get for STCs.
What a normal gap looks like
At the time of writing, a value of a dollar or two under the market range is ordinary. A value of $30 or less, when the market is near $38 to $40, is something to question. The installer might be keeping the spread as profit, or may simply be using an old rate. Either is worth asking about before you sign.
What makes it move
- The STC market price, which changes through the year.
- The installer’s trader and their settlement terms.
- Whether the installer locks a rate at quote or adjusts at installation.
If a quote is valid for 30 days and the market moves, a good installer should hold the quoted unit value for the validity period. A quote that says “STC value subject to change” gives them the option to reduce your discount later.
What this means for you
Compare quotes on STC count and value per STC, then on the other lines. Use the STC calculator to check the count. Read how to judge whether your discount is fair for a simple test, and the homeowners guide for the bigger picture.
Installers who want to pass a stronger discount to customers should look at what their certificate partner pays. Our published rate is on the pricing page, and you can see how settlement works under how it works.