STC spot price

Written and checked by the Energy Merchants desk · Reviewed 2 October 2026

The STC spot price is the going rate for a certificate that is ready to transfer now. It is set by buyers and sellers in the market, not by the Clean Energy Regulator, and it moves with supply and demand.

At the time of writing, spot has been roughly $38 to $40 per STC. The upper limit is the clearing house price of $40, because a seller can always sell to the clearing house at that price, so nobody should pay more in the open market.

Spot price versus the rate you receive

This is where installers feel the difference. The spot price is a market indicator. The rate a trader pays you is a business offer that sits at or below it, depending on the trader’s costs, the speed of payment and the terms. Two numbers can both be correct and still not match.

To compare offers, look at what lands in your account after everything, including any fees, how quickly the money arrives, and when the rate is fixed. A rate that is locked when you lodge a complete claim protects you from a move between lodgement and settlement. Energy Merchants publishes its daily rate on pricing.

In practice

Spot is worth watching on larger pipelines. A fall of $1 on a 45 STC job is $45. Across 100 jobs, it is $4,500. Because the price is capped at $40 and has been near it, the daily movement has been small at the time of writing, though the market can shift when scheme rules or supply change. Our guide to what an STC is worth in 2026 tracks it.

Common confusion

Spot price and the STC discount on a quote are not the same. The discount shown to a customer is a calculation from system size, zone and deeming period, multiplied by an assumed price. The customer’s discount is therefore only as good as the assumption. Conservative quoting protects your margin.

Spot is also a price per certificate, not per kilowatt. A 6.6 kW system creates dozens of certificates, not thousands.

Read about the ceiling in STC clearing house, and look at the certificate trading glossary for more terms. For the sell side, see STC trading.