Victoria is in STC Zone 4 and offers VEECs for commercial solar (30-200 kW) in addition to STCs, with higher regional factors outside metro Melbourne.
Victoria stacks two certificate schemes on the same solar system. Federal STCs apply to every commercial install up to 100 kW, and Victorian Energy Efficiency Certificates (VEECs), issued under the Victorian Energy Upgrades program, apply on top for systems between 30 kW and 200 kW. Both are assessed against the same panels — solar earns STCs based on zone and size, and the same kW also generates VEECs under Activity 47A or 47B.
STC zone ratings vary more inside Victoria than most owners expect. Melbourne CBD (3000) sits in STC Zone 4, the lowest multiplier band at 1.185; a 100 kW system installed in 2026 earns roughly 593 STCs over the 5 years left in the scheme. Head north-west to Mildura (3500) and the zone lifts to Zone 3 at 1.382 — roughly 691 STCs for the identical system, about 17% more, because CER zones are drawn from measured solar irradiance and the Mallee gets considerably more sun than the coast.
The VEEC side moves the same way. Metro Melbourne postcodes (roughly 3000-3207, plus several outer bands) use a 0.98 regional factor; everywhere else in the state gets 1.04, about 6% more certificates for the same array. Stack the two together and a regional Victorian system can out-earn an identical metro install on both STCs and VEECs at once. The Activity 47A/47B breakdown below covers the exact VEEC maths for your system size.
VIC commercial solar installations can access the following incentive schemes.
Registered 17 September 2026: STC eligibility expands from 100 kW to 1 MW for solar installed from 1 October 2026. The 100 kW limit above still governs anything installed before that date, and capacity above the first 1 MW keeps earning LGCs. Read the announcement.
Adjust system size to see your VIC incentive breakdown at current certificate prices.
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The zone multiplier determines how many STCs are generated per kilowatt of installed capacity. A multiplier of 1.185 means a 100 kW system in Melbourne installed in 2026 generates 593 STCs over the remaining deeming period (5 years to 2030), worth approximately $23,108 at current certificate prices.
VEECs stack on top of the federal certificates (STCs up to 100 kW, LGCs above), making Victoria one of the most incentivised states for commercial solar. Regional Victorian installations (outside metro Melbourne postcodes) use a 1.04 regional factor against 0.98 in metro Melbourne, about 6% more certificates for the same array.
Large-scale Generation Certificates provide annual recurring revenue for solar systems above 100 kW in Victoria. Unlike the one-time STC discount, LGCs generate income every year based on actual electricity production.
One LGC is created per megawatt-hour (MWh) of generation. At current prices of $8/LGC, a 150 kW system in VIC generating approximately 164 MWh per year would earn roughly $1,274/year in LGC revenue. In the 100–200 kW band those LGCs sit alongside Activity 47B VEECs.
Above 100 kW, solar earns LGCs annually instead of an upfront STC discount. Here is how the scheme works, what a certificate is really worth in 2026, and what changes in October.
Upfront STCs for solar up to 1 MW from October 2026, worth roughly $272/kW at current prices. What the registered rules say, and how the 1 MW ceiling is tested.
Activity 47A covers systems up to 100 kW at an input factor of 0.133; Activity 47B covers the 100-200 kW band at a higher input factor of 0.25. Both run a 10-year VEEC lifetime, so a 100 kW system right at the 47A ceiling earns fewer VEECs per kW than a 150 kW system just inside 47B, even though both are commercial-scale installs.
Yes. Metro Melbourne postcodes (roughly 3000-3207, plus several outer bands) use a 0.98 regional factor; every other Victorian postcode gets 1.04, about 6% more certificates on the same system. Combined with the higher STC zone multiplier most regional Victorian postcodes sit in, a regional VIC system can out-earn an identical metro install on both certificates at once.
Melbourne CBD (3000) is STC Zone 4, the lowest multiplier band at 1.185. Head north-west to Mildura (3500) and the zone lifts to Zone 3, worth 1.382 — about 17% more STCs for an identical 100 kW system, because CER zone boundaries are drawn from measured solar irradiance and the Mallee gets considerably more sun than the coast.
Yes, in the 100-200 kW band. The ESC's C&I solar activity guide allows Activity 47B VEECs to be created alongside LGCs under the federal Renewable Energy Target for the same system. Below 100 kW, LGCs do not apply; those systems pair their VEECs with the upfront STC discount instead.
Yes — STCs and VEECs are assessed independently and both apply to the same solar installation. The panels earn an upfront STC discount based on zone and size, and the same kW also generates VEECs under Activity 47A or 47B, on top.
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