A rate lock is a simple promise: from a stated moment, the price you will be paid for a batch of STCs stops moving. The detail that matters is the moment. Two traders can both advertise a “locked rate” and mean very different things.
The trigger is everything
| Locks at | What it means for you |
|---|---|
| Quote or booking | Rare. You get certainty early, but the trader will price in risk. |
| Lodgement of a complete claim | Common and useful. Once the job is in and complete, the number is fixed. |
| Registry approval | The price can move for days after you have done the work. |
| Payment | Effectively no lock at all. |
At Energy Merchants, the rate is published daily and locked on lodgement of a complete claim. “Complete” matters: if the photos or paperwork are short, the claim goes back and the lock may not start until it is fixed. That is one reason our compliance desk pre-checks claims before anything is lodged.
How to use a lock when you quote
Quote your STC discount from the published rate on the day you price the job, then check it against the rate at lodgement. In a stable market the two are close. STC spot has been roughly $38 to $40 at the time of writing, so the swing between quote and lodgement is usually small, but across a big commercial job or a deeming-period change it adds up. Use the STC calculator to turn the rate into dollars for your system size and zone.
What a lock does not cover
- Fewer certificates than you expected. A lock fixes price, not volume. If a claim is reduced after review, you are paid on fewer STCs.
- Rejected claims. A rejection means no payment at any rate. See top STC claim rejection reasons.
- Deeming-period changes. Certificates per system fall on 1 January, locked rate or not.
What this means for installers
A lock turns the price of your certificates from a market bet into a line item. That makes fixed-price quoting safer and cash flow forecastable. Before you rely on one, confirm the trigger, the definition of a complete claim and what happens if you amend a claim after lodgement. Our pricing page shows today’s rate, and how it works walks through lodgement to settlement. If you are comparing offers, rate lock versus spot covers the trade-off and how to pick an STC trader puts it in context.