Report: Quarterly Solar Report Q2 2015

21 Jul 2015

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Highlights from the Quarterly Report (Q2 June 2015)

Certificate creation

  • STC creation decreased 4 per cent in the June quarter, despite a significant increase in SWH creation

Systems creating certificates:

  • SWH: systems creating STCs increased 17 per cent during the June quarter to 15,500 systems
  • PV: systems creating STCs decreased 8 per cent during the June quarter to 35,300 systems.  The past two quarters have had the lowest number of PV systems creating certificates since the start of the SRES

Meeting STC demand

  • STCs submitted for creation so far in 2015 averaged 311,000 per week which is 7.4 per cent lower than the STC target and nearly 10 per cent lower than the same time last year.
  • We have reduced our estimate of the level of PV installed in 2015 from 830 MW to 780 MW.
  • We expect that 61,057 SWH systems will be installed in 2015 slightly lower than our previous estimate of 61,900.
  • We estimate that we will have a deficit of 0.2 million STCs at the end of 2015 compared to a surplus of 0.8 million in our previous report.
  • The Clearing House again went into deficit on 10 July and at 17 July was nearly 600,000 in deficit.


  • STC spot prices were very stable during the June quarter and closed at $39.85
  • STCs traded at the notional maximum of $40.00 (the Clearing House price) between 15 April and 20 April
  • Third quarter forward trades for October delivery increased throughout the quarter, starting at $39.65 and finishing at $39.90
  • Fourth quarter forwards for January delivery traded at $38.90 at the start of the quarter and were trading at $39.80 by the end of the quarter
  • 2016 compliance STCs have traded up to $38.80


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