The Federal Government’s Solar Credits Scheme could turn out to be yet another failed government program, joining the ranks of the pink batts and the school halls schemes.

SolarXpress Brisbane has 67,388 small technology certificates (STCs) registered with Renewal Energy Regulator worth $2,695,320. The certificates scheme was set up to prompt households to invest in renewable energy such as solar hot water and solar panels. These certificates are issued when someone signs up for the scheme and it is installed.

SolarXpress operator Guy Montgomery said he would have to wait for payment despite being told it could be two years from now.

“I was advised that I could on-sell the certificates but that would be useless as they would sell at a greatly reduced rate,” he said.

“So all I can do is wait out the two years.”

“I am reasonably all right and will be able to withstand the delay for payment but I do employ 35 staff – imagine some of the smaller companies, just how are they going to cope; how many jobs and businesses will go?”

Several Queensland solar companies are likely to be hit hard, along with dozens more across the country.

Wyatt Roy, Member for Longman, said that when he inquired about SolarXpress’ payment to the Minister for Climate Change and Energy Efficiency, Greg Combet, he received reply via a letter stating that Mr Montgomery “He seems to be shifting blame for payment of the rebates, claiming it was not the government who was responsible for reimbursing businesses” Mr Roy said.

“Given the problems that the government is having keeping their financial commitments to pay these rebates, these certificates will not be a hot commodity – and doubtless the business would lose substantial money if they were to on-sell.

“This is this kind of flagrant disregard for local small businesses which got this government into this situation in the first place,” Mr Roy said.

“These businesses have done nothing wrong. Why are they being punished for the government’s inability to meet financial commitments? Many of these businesses will be forced to the wall if this continues for much longer.”

For those of you that don’t know, STC’s are like shares.  They fluctuate in value and this is due to supply and demand.  This is why the price of your solar system can also go up and down quite rapidly.  Click here to learn more