The short version: STCs have been changing hands at about $38 to $40 each in 2026, and $40 is the hard ceiling set by the Clearing House. That is a spot market range at the time of writing, not a promise of what any one trader will pay you.
Why $40 is the ceiling
Under the small-scale scheme, liable entities can always buy certificates from the Clean Energy Regulator’s Clearing House at $40. That caps what anyone will pay on the open market. Spot trades then sit a little under it, reflecting the cost and risk of moving certificates through the registry, plus the time value of money.
Spot versus what lands in your account
Spot is a reference, not your payout. A trader pays a rate below spot to cover its own costs and margin, and the gap varies widely between traders. It is also affected by how fast you get paid: a lower headline rate with settlement tomorrow can beat a higher rate paid weeks later once your cash flow is counted. If you want the maths on that, see STC payment terms, 20 days versus 1 day.
| What you hear | What it means |
|---|---|
| Spot price | The market trading level for certificates |
| Clearing House | The $40 fallback buyers can always use |
| Your buy rate | What your trader actually pays you |
What moves it
The number of certificates created, buyer demand, the deeming period shortening each year, and sentiment around the scheme. The deeming period is 5 years for 2026 installs and 4 for 2027, so the volume of certificates per system will fall in January. Read what changes in January.
What this means for installers
Check the live published rate before you quote, and ask when it is locked. Energy Merchants publishes its buy rate daily on the pricing page and locks it when a complete claim is lodged, with zero fees on top. The STC trading pillar and what an STC is worth fill in the rest.
Prices move, so treat any number here as a snapshot and check the live figure before you quote a job.