Australia’s Clean Energy Regulator announced late last week that the Small-scale Technology Percentage (STP) for 2015 is to be set at 11.71 per cent.
Each year the small-scale technology percentage is calculated. It sets the obligations for Renewable Energy Target liable entities (usually electricity retailers) under the Small-scale Renewable Energy Scheme; which supports the installation of clean energy technologies such as home solar power systems.
If an entity does not surrender enough certificates to meet its liability, it may be subject to a financial penalty.
The 11.71 per cent figure represents 20.57 million small-scale technology certificates, as a proportion of total estimated electricity acquisitions in 2015 and some carry over from previous years.
According to Green Energy Trading, the percent set implies the level of liable electricity sales for 2015 is approximately 175,640 gigawatt hours (GWh); 1.3 per cent lower than the assumed level sales for 2014 of 178,000 GWh.
“Using an average of the consultants’ estimates for the different fuel sources, the level of solar PV to be installed in 2015 amounts to 808 MW. This is 2.3% lower than the 827 MW estimated to have been installed in 2014,” says a report from the company.
“If we allow for similar levels of solar water heater (SWH) STCs for 2016 and 2017 as estimated for 2015 then the implicit level of solar PV installations amounts to 799 MW in 2016 and 830 MW in 2017”.
While quite a drop from the heady days of of 2012 when 1032MW of solar panels were installed; 808 MW is certainly better than a poke in the eye with a sharp stick for Australia’s solar industry and the projections indicate Australia’s love affair with solar is far from over.
There have been approximately 1.3 million solar power systems installed throughout the nation under the Renewable Energy Target. Support under the Target can reduce the cost of a residential solar power system by thousands of dollars. Combined with innovative financial initiatives such as zero deposit solar and affordable payment plans, many more Australians have been able to make the switch to solar and slash their electricity bills.
