RENEWABLE ENERGY CERTIFICATES (RECs)

Initiated by the Renewable Energy (Electricity) Act 2000; RECs, otherwise known as Renewable Energy Certificates, are available when you buy qualifying solar hot water, solar/wind power systems or solar panels.

The RECs system was originally implemented to encourage an additional 9,500 Gwh of renewable energy generation per year by 2010 as part of the renewable energy target. Renewable Energy Certificates will play an even greater role in the recently announced renewable energy targets to be achieved by 2020 via the Solar Credits Program. 

RECS - RENEWABLE ENERGY CURRENCY

One REC is equivalent to one megawatt hour of electricity generation. A renewable energy certificate can be traded for cash and the value of these certificates fluctuates according to market conditions. Basically, a REC is a form of renewable energy currency.

Owners of systems can claim RECs themselves by completing the appropriate application forms. 

By taking advantage of Renewable Energy Certificates, a substantial amount of money can be saved on wind and solar power equipment. REC values fluctuate according to market conditions. We can supply the current figures so please contact us for further information.

RECS AND THE SOLAR CREDITS SCHEME

The Australian government recently launched the Solar Credits Scheme grid connect wind and solar power systems. The Solar Credits Program is based on the Renewable Energy Certificate system, but with a certificate multiplier incentive offering up to 5x the usual number of RECs issued for solar power systems up to 1.5kW. Depending on where you live, this can represent a saving of up to $9,000!

The new program replaces the previous rebate and is available to just about every Australian household, business and community group. By increasing the number of RECs issued with qualifying components and systems, the Australian government hopes to achieve a goal of 45,000 gigawatt-hours (GWh) of electricity via renewable means such as solar, wind and geothermal by the year 2020.

Please note: for the purposes of RECs calculations, Australia is divided up into various zones based on how much renewable energy can be generated by a solar panel in a given area. You can determine your zone - please refer below. The zoning for solar panels is different to zoning for solar hot water systems.

For more information about RECs, please click here.