28 Jul, 2017
Small-scale Technology Certificates (STCs) form the basis of a government financial incentive to reduce the cost of ‘small-scale’ (<100kW) renewable energy systems.
The number of STCs allocated to each system varies according to:
- geographic location
- installation date
- the amount of electricity (MWh) that is either generated (solar, wind or hydro) or displaced (solar or heat-pump hot water) over a specific period of time.
Sale of STCs enables the owners of small-scale renewable energy systems to recoup a portion of the cost of purchasing and installing a system.
The process of registering and trading STCs can be quite involved.
To save customers this inconvenience, many installers (including MODE) offer to process the STCs for an installation as part of their service to customers, and calculate the value of STCs as a discount (our ‘government financial incentive’) in their quotes.
The value of STCs has recently plummeted. To understand why, it’s helpful to know the context in which STCs are created and traded.
Value of STCs
The trading value of STCs is centred around Australia’s Renewable Energy Target, a government scheme introduced in 2001 and geared to ensuring at least 20% of Australia’s energy generation will come from clean energy by the year 2020.
The Renewable Energy Target is split into 2 parts:
- The Large-Scale Renewable Energy Target
- The Small-Scale Renewable Energy Scheme
Under the Small-Scale Renewable Energy Scheme, Renewable Energy Target Liable Entities (primarily electricity retailers) have a legal obligation to buy and surrender a specified amount of STCs on a quarterly basis.
The size of the market for STCs is set every year by the Clean Energy Regulator (the federal government body responsible for overseeing implementation of the Renewable Energy Target), based on how many small-scale renewable energy systems they expect to be installed for the year ahead.
This projection determines the number of STCs Liable Entities are obliged to acquire for that year, based on a percentage of the anticipated STC creation.
As with any commodity, the price of STCs is driven by supply and demand, and may fluctuate on a daily basis.
While the STC market has been relatively stable for the past few years, significant under-estimation of the installation of renewable energy systems for late 2016/2017 has lead to a dramatic over-supply of STCs.
This over-supply has lead to a sharp drop in the price of STCs in recent days as Liable Entities have fulfilled their quotas for the second quarter, and the current STC surplus exceeds requirements for the upcoming trading periods.
This means that the trend of lower STC prices is anticipated to continue for some time.
27 Mar, 2017
TEELS is a joint initiative of the Tasmanian Government and Aurora Energy to provide up to $10 million in the form of no-interest finance for the purchase of energy efficient products for households and small businesses.
Likely to be officially launched in early April, TEELS is designed to assist customers in purchasing energy-efficient appliances, including:
- Solar Panels
- Solar-powered Battery Storage
- Gas/Air-source Heat Pump and Solar Hot Water Heating Systems (e.g. Sanden Eco)
- Non-ducted Reverse Cycle Air Conditioners (min. 2.5 star energy efficiency rating)
- Fridges, Freezers, and Washing Machines (rated above 3-star energy efficiency rating)
- Industrial Refrigeration
- Double Glazing
- Ceiling and Floor Insulation
- Condensation Control Systems
- Efficient Wood Heaters
- Block-out Curtains, Blinds, and Pelmets
- Irrigation Pumps
- Building Upgrades to reduce energy usage
The application process will be facilitated by Aurora Energy, who are currently accepting expressions of interest. Those who register their interest will be kept informed via email of developments and the progress of the scheme.
You may register interest in this scheme with Aurora here.
Free information sessions regarding TEELS are being organised by the Tasmanian Renewable Energy Alliance where you will have the opportunity to learn about available technologies and talk to the experts.
Launceston: 5:30-7:30pm, Tuesday 4 April, West Tamar Council, Eden Street, Riverside (parking available)
Hobart: 5:30-7:30pm, Wednesday 5 April, Talbot Hotel, 131 New Town Road, New Town (parking at rear)
RSVP: RSVP appreciated (not essential) to email@example.com
More Info: Jack Gilding, firstname.lastname@example.org, 0407 486 651
Westpac Group have been announced as the financial partner for the administration of this scheme, and finance will be subject to the Westpac Group’s standard terms and conditions (without interest).
This is an exciting opportunity for home-owners to improve the energy efficiency of their houses, and for small businesses to invest and reduce their energy bills.
10 Mar, 2017
With a world-record 22.2% nameplate efficiency, SunPower X22-Series 360W solar panels have just been released for domestic customers in Australia.
Sunpower X22-Series panels are made with third-generation SunPower® Maxeon® solar cells that are built on a solid metal foundation (rather than standard grid-lines) for high reliability and performance.
These panels are the highest efficiency solar panel available for residential customers in Australia today, and are still the same size as conventional panels.
If you’d like more information on the SunPower X22-Series panels, please don’t hesitate to contact us, or see Sunpower’s Press Release!
15 Dec, 2016
29 Nov, 2016
MODE is thrilled to be involved in the installation phase of a world-first trial currently taking place on Bruny Island.
The $2.9 million project funded by ARENA is led by the Australian National University (ANU), and is focused on examining the potential for home batteries to play an active role in grid power management.
Up to 40 hybrid systems will be installed in homes on Bruny Island.
The innovative battery control hardware and software developed by one of our product partners, Reposit Power, will be used to monitor live data on customer energy usage, household PV generation, and even weather forecasts to predict how much energy will be generated and consumed by the household over a 24 hour period.
This information will then be used by sophisticated software developed by researchers at ANU to ‘negotiate’ the amount and price of power exchanged between individual home battery systems and the local network.
Researchers will use data collected from this trial to assess the impact of distributed, co-ordinated utilisation of customer-owned battery systems on stabilisation of local power supply, while still allowing customers to optimise their own energy consumption and benefit from contributions to the grid.
We’re keen to see where this innovative Australian research will lead, and what benefits such research may ultimately provide to home battery owners!
01 Nov, 2016
MODE are delighted to announce that we have won the 2016 Innovative Tasmania Service Award in Hobart last week.
It was a wonderful opportunity to raise awareness for the Nzara Hospital Project, and to showcase how state-of-the-art technology can be so effectively utilised to make real, positive changes in remote and under-developed regions. We can all do our part.
Thank you for your support!
24 Aug, 2016
This year MODE Electrical has been nominated for the BOFA Tasmanian Innovation Awards.
The nomination was based on an overview of a large stand-alone system designed and built here in Launceston specifically to provide Nzara Hospital in remote South Sudan with a reliable source of power 24/7. The system, monitored remotely from our local office, enables Nzara Hospital to provide critical services to its community in a climate of political unrest and uncertainty.
The BOFA Film Festival is a major annual Tasmanian Film Festival. Focused on ‘Inspiring positive change through Film’, the festival runs over 4 days (Thursday 10 – Sunday 13 November 2016). BOFA features and exhibits a diverse range of films – short films, documentaries, feature films, including a category dedicated to detailing Tasmanian Innovations.
Once nominated, determination of who wins a BOFA award is based solely on the number of votes received from the general public – you.
If you would like to support our submission, please go the the BOFA Innovation Awards page, scroll down to select Option 04 (Innovative Service Award), and click to vote for MODE.
It’s as simple as that! We thank you for all your support.
We believe the story of life and hope this project has brought to a community with limited resources is really worth telling.
It’s a reminder of what can be done when we set our hearts, minds, and wills to strive for something greater than ourselves.
We live on a beautiful little island far away from devastating currents of political and social turbulence, but our shared humanity knows no boundaries.
26 Jul, 2016
We are absolutely delighted that MODE Electrical has been awarded the 2016 Telstra Business Award for Micro-Business in Tasmania. The fact that this prestigious award for ingenuity and innovation was presented to a small company with a huge passion for renewable energy is a win for the future of clean power generation in Australia. We are excited by the opportunity to represent our beautiful green State at the National Awards in Sydney on 26 August.
We would like to take this opportunity to sincerely thank you for the encouragement and support which has made such an achievement possible.
26 Jul, 2016
MODE are thrilled to announce that we are now Certified Installers & Resellers of Tesla Energy Powerwall Batteries
In today’s climate of increasing power costs and tariff restrictions, battery storage is an exciting and very topical issue. Although storage batteries for solar systems have been available for some time, up until very recently the technology was simply not available to make this a user-friendly option.
Just released in Australia, the SMA SunnyBoy Storage system has now been developed to smoothly integrate high-voltage batteries with any existing system, regardless of Inverter brand. It can be used in conjunction with a Tesla Powerwall or various other Lithium Ion batteries stocked by MODE to provide a state-of-the-art power storage solution for your home.
When used with the new opt-in ‘Time of Use’ Tariff 93, battery storage has the potential to offer significant cost savings, and a multitude of other benefits. See our Website for further details and answers to Frequently Asked Questions.
20 May, 2016
A recent exciting break-through by Australian Engineers at the University of NSW has significantly increased the energy conversion potential of solar cells, jumping the world record from 24% to an impressive 34.5% sunlight-to-electricity efficiency. Even more impressively, they achieve this level of efficiency using un-concentrated sunlight, just like the modules on family homes.
In addition to being substantially more efficient, these new solar cells also cover considerably less surface area than previous record-holding cells.
The cells work by splitting sunlight into four separate bands, which are then absorbed by four different layers made from materials specifically developed to optimise efficiency.
Although the cost of these cells is currently prohibitive for large-scale commercial production, this unexpectedly rapid progress in photovoltaric technology should ultimately enable solar power to be even more affordable into the future, further lowering investment costs and delivering faster payback to homes and businesses.
For further information click here