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Renewable Energy Certificates

When you install solar power, solar water heating and other renewable energy technologies you are helping to reduce greenhouse gas emissions. This entitles you to receive environmental credits called Renewable Energy Certificates (RECs).

These credits are a commodity and are tradable like shares. Like other commodities the REC price is not fixed and fluctuates with supply and demand.

Organisations in Australia such as power and gas companies (liable parties) must purchase specified quota of certificates, on a quarterly basis in order to meet their own renewable energy targets set by the government. This creates the demand for the certificates and Australian residents and business provide the supply of certificates after they install renewable energy technologies.

RECs are made up of two types of certificates – Small-scale Technology Certificates (STCs) and Large-scale Generation Certificates (LGCs).

STCs have been created to give you a financial incentive to install installations such as solar water heaters, heat pumps or solar panels in your home or business. One small-scale certificate is generally equivalent to the output of 1MWh of renewable energy.

When an eligible technology is installed, STCs can be created either by the system owner (you) or by the installer. It is important to remember that the STCs you receive have no worth unless you choose to sell them.  Traditionally, many people have given their installer the permission to trade their certificates for them and in exchange accept a point of sale discount.

REC’s calculator for solar hot water
https://www.rec-registry.gov.au/swhCalculatorInit.shtml

If you want to replace your existing gas or electric hot water system with a solar hot water system, contact us today.