Two numbers circulate: $40 and something a bit lower. They are both real.
The $40 clearing house
The STC clearing house is a mechanism run by the Clean Energy Regulator that lets anyone holding a registered STC sell it at a fixed $40 each. It exists so that STCs hold value and the price cannot drift far below the intended level. Certificates sold this way join a queue, and payment follows the transfer process rather than being instant. See the clearing house definition.
The spot price
Spot is the price at which STCs trade between market participants for quick settlement. Because $40 is the ceiling and waiting has a cost, spot trades a little under it: roughly $38 to $40 at the time of writing. A buyer paying $39.50 today is paying for speed and certainty rather than a place in a queue. See what the spot price means and STC trading price versus the clearing house.
Why a trader’s rate is lower again
A trader buys your certificates, validates the claim, carries the risk of rejection and re-sells at spot. The difference between what you receive and the spot price is how the trader covers compliance cost, financing and margin. Rates differ widely; some traders add fees, others do not. Two traders at the same spot price can pay you different amounts.
| Layer | Price | Speed |
|---|---|---|
| Clearing house | $40 | Slowest |
| Spot market | roughly $38 to $40 | Fast |
| Trader rate to installer | Below spot | Fast; depends on terms |
What to compare
- The rate and when it is locked
- Fees (any processing, admin or registry fees)
- Settlement time after a clean claim
- What happens if a claim is rejected
See choosing a certificate trader and what price installers actually get.
A worked example
Say you create 100 STCs. At $40 through the clearing house that is $4,000, but you wait in the queue. At a spot of $39 a trader could pay about $3,900 minus its margin, and you are paid in days. If the trader’s rate is $38 you receive $3,800. The $100 gap per hundred certificates is the price of speed and service; the question is whether the service is worth it for your cash flow.
What this means for installers
Do the sums on cash timing, not on the headline rate. Energy Merchants charges zero fees, publishes its rate each day on pricing and settles established partners in 24 hours; see how it works, STC trading and the market and policy hub.